TMTPOST--UBTECH Robotics, a leading Chinese humanoid robots and smart service robots company, has announced a strategic partnership with FAW-Volkswagen.
Under this collaboration, FAW-Volkswagen will integrate UBTECH Robotics' industrial humanoid robot, Walker S, into its "National Intelligent Manufacturing Demonstration Plant" in Qingdao city, Shandong province.
This facility utilizes highly automated and flexible manufacturing equipment to efficiently produce models like the Bora and the new Audi A3 sedan and hatchback. With a peak daily output exceeding 1400 vehicles and an average production rate of one vehicle every 54 seconds, the plant represents a significant advancement in automotive manufacturing.
Meanwhile, UBTECH Robotics will focus on optimizing its humanoid robots for industrial applications, aiming to establish intelligent and flexible production lines and automotive super automated factories. The collaboration also includes plans for joint efforts in industrial logistics robots, supply chain enhancements, and other sectors.
Following the announcement, UBTECH Robotics’s stock price saw an initial increase of 0.6% upon opening at the Hong Kong Stock Exchange on Tuesday, and then rose nearly 3%. Currently, UBTECH Robotics's stock is valued at HK$154.7 per share, reflecting a 1.1% increase and a market capitalization of HK$64.6 billion.
UBTECH Robotics made its debut on the Hong Kong Stock Exchange in December 2023 as "the first stock of Chinese humanoid robots," recording a market value of HK$37 billion. Since 2024, the company has concentrated on expanding its footprint in key sectors such as automotive and 3C industries, enhancing humanoid robot capabilities in tool operation and task execution, and deploying its industrial humanoid robot, Walker S, in various assembly workshops.
The humanoid robot industry is experiencing rapid growth, fueled by increased financing activities. According to forecasts by MarketsandMarkets, the global humanoid robot market is expected to surpass US$ 10 billion by 2027, growing from USD 1.5 billion in 2022 at a compound annual growth rate of 63.5%. By 2035, the market size is projected to exceed US$ 100 billion, reaching US$ 154 billion.
Statistics from "China Electronics News" indicate robust financing activities in the global humanoid robot sector in the first half of 2024, with over 22 financing events and more than seven billion yuan in funds raised. Notably, U.S.-based humanoid robot startup Figure AI led with a substantial financing round of US$ 675 million.