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The company said it will close the site by June 2018 and about 90 employees will be affected by the decision.

The company said it exported 39,168 vehicles last year, up 125 percent year-on-year. This year, exports are expected to reach 55,000 units.

The company will also beef up its investments in industrial internet bases, innovation centers and industrial parks, fully leverage resources from top-tier experts and laboratories, and collaborate with top universities at home and abroad to establish research platforms while strengthening industrial research and talent cultivation.

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The company posted a net loss of 2.62 billion yuan (0 million) for the first quarter of this year, 71.36 percent more than the same period in 2018.

The complex challenges not only threaten economic growth and livelihoods, they are also impacting nations' ability to implement the 2030 Agenda for Sustainable Development and Paris Agreement on Climate Change, he added.

The company's development in China started from its first plant in Shanghai, beginning operations in 1991. Air Liquide has a strong presence in China, where it operates plants in more than 40 cities across the country including Jiangsu, Zhejiang and Guangdong provinces, with around 5,000 staff members.

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The company said the move is aimed at reducing commuting costs for passengers while preserving the environment.

The company is expanding its R&D operations to focus on vehicle integration and product development.

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The company plans to use the net proceeds of this offering primarily for general corporate purposes, including investment in product development, sales and marketing activities, technology infrastructure, improvement of corporate facilities and other general and administrative matters, said its prospectus.

The company was recognized for the environmental impact of Ant Forest, the world's largest platform for tracking individuals' carbon footprints.