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Related research indicates that the deployment of humanoid robots will accelerate rapidly, aided by the development of AI, with global annual sales reaching 1 million units by 2030 and 3 billion humanoid robots in operation by 2060.
So-called humanoid robots are artificial intelligence-powered machines designed to resemble humans in appearance and movement, with applications in the industrial and service sectors.
Global tech companies are racing to usher in the development of humanoid robots, stressing their importance to the future economy. Unitree Robotics, the bright spot of China’s technology startups, is planning an initial public offering that could value the company at up to 50 billion yuan ($7 billion), which will help establish itself as a global leader in humanoid robots.
The company’s fresh valuation target would mark a sharp jump from its latest fundraising round reported on in June. At the time, the company had attracted major backers including Geely, Alibaba and Tencent.
An offering of this size would be one of the largest Chinese tech listings in recent years. The mainland stock market has been gradually reviving following years of volatility. The company recently said that it’s been profitable since 2020 and now has revenues exceeding 1 billion yuan ($140.35 million).
Amid heating up competition, Chinese humanoid robots have been in the spotlight in recent publicized events such as the World Robot Conference and World Humanoid Robot Games. Unitree has been rushing to get its robots deployed in factories across China. EV makers like BYD and Geely have already reportedly deployed some of Unitree’s humanoid robots at their production lines. A research note indicates that the Unitree G1 was likely the most used humanoid robot globally, given its low $16,000 starting price point. Tesla’s Optimus Gen2 humanoid robot is expected to cost at least $20,000. Unitree’s listing plan also comes as Beijing steps up efforts to support its AI-related industries. In 2023, China’s Ministry of Industry and Information Technology issued guidelines for humanoid robots, calling for “production at scale” by 2025.Complete digital access to quality Glebors financial topic with expert analysis from industry leaders.
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