financetom
Business
financetom
/
Business
/
Ant Group enters China's growing humanoid robot industry amid rising tech interest
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Ant Group enters China's growing humanoid robot industry amid rising tech interest
Feb 19, 2025 2:20 AM

BEIJING, Feb 19 (Reuters) - Ant Group, the

Alibaba-linked fintech giant, is venturing into the humanoid

robot industry, joining a growing list of major Chinese tech

companies exploring this emerging field.

The company has opened positions related to humanoid robot

systems and applications through its subsidiary, Shanghai Ant

Lingbo Technology, which was established at the end of 2024 with

registered capital of 100 million yuan ($13.73 million),

according to a local media report confirmed by an Ant

spokesperson.

Humanoid robots, which are designed to resemble humans in

shape and movement, have become a hot investment area in China,

attracting interest from both large corporations and startups

across various sectors, including technology, electric vehicles,

and manufacturing.

The Chinese government has identified humanoid robots as one

of the "new productive forces" that Beijing seeks to drive the

country's economic growth and compete with the United States for

technological leadership.

Some prominent Chinese humanoid robot companies have gained

recognition, including UBTech and Unitree. Unitree has captured

attention for its products' impressive capabilities, such as

walking, climbing, and carrying loads.

Unitree's founder was given a front row seat in a meeting

Chinese President Xi Jinping held with private sector bosses on

Monday, shoring up interest in the sector further.

Some companies, such as Meituan ( MPNGF ) and Xiaomi ( XIACF )

, are directly involved in the research and development

of robots. Xiaomi's ( XIACF ) efforts date back to at least 2022 when it

launched its first full-size humanoid bionic robot, CyberOne.

Other companies are entering the space through investments

and partnerships. Tencent, for example, has been involved in the

industry since at least 2018, when it invested 50 million yuan

in Leju Robot, a Shenzhen-based startup.

($1 = 7.2848 Chinese yuan renminbi)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Emergent Biosolutions, Johnson & Johnson Settle Dispute Over COVID-19 Vaccine Manufacturing
Emergent Biosolutions, Johnson & Johnson Settle Dispute Over COVID-19 Vaccine Manufacturing
Jul 9, 2024
03:53 AM EDT, 07/09/2024 (MT Newswires) -- Emergent Biosolutions ( EBS ) said in a regulatory filing Monday that its subsidiary, Emergent Manufacturing Operations Baltimore, and Johnson & Johnson's ( JNJ ) Janssen Pharmaceuticals unit have agreed to settle all disputes related to a manufacturing services agreement for Johnson & Johnson's ( JNJ ) COVID-19 vaccine. Under the settlement agreement,...
BP warns of Q2 profit hit from weak refining margins, oil trading
BP warns of Q2 profit hit from weak refining margins, oil trading
Jul 9, 2024
July 9 (Reuters) - British energy giant BP said on Tuesday that weak refining margins and oil trading were likely to dent its second-quarter profit, sending its shares down 3% in morning trading. While its refining margins will take a hit of $500 million to $700 million, the London-based company also expects to record $1 billion to $2 billion in...
Amundi signs final deal to take 26.1% stake in Victory Capital
Amundi signs final deal to take 26.1% stake in Victory Capital
Jul 9, 2024
July 9 (Reuters) - Amundi has signed a definitive deal to take a 26.1% stake in U.S. firm Victory Capital, the French asset manager said on Tuesday. The deal will involve Amundi merging its U.S. operations with Victory Capital and a 15-year distribution and services agreement. The previously proposed deal is expected to be completed late in the fourth quarter...
German insolvencies higher than expected in H1, reports Handelsblatt
German insolvencies higher than expected in H1, reports Handelsblatt
Jul 9, 2024
BERLIN (Reuters) - The number of medium-sized and large companies in Germany that went insolvent in the first half of this year was up 41% compared with the same period last year, the Handelsblatt daily reported, citing inflation, rising costs and weakening demand. In the first six months of 2024, 162 companies with a turnover of more than 10 million...
Copyright 2023-2026 - www.financetom.com All Rights Reserved