lines. At the World Robot Conference in Beijing, over two dozen Chinese companies unveiled a humanoid robot. It is designed for work in factories and warehouses.
Chinese robots are moving into the emerging industry. They use the same formula as their decade-long push into EVs. `China's humanoid robot industry demonstrates clear advantages in supply-chain integration (and) mass production capabilities,` said Arjen Rao from China-based LeadLeo Research Institute.
President Xi Jinping policy supports the Chinese robot effort. It aims to develop `new productive forces` in technology. In January, Beijing launched a $1.4 billion state-backed fund for Chinese robots. In July, Shanghai announced plans to set up a $1.4 billion humanoid industry fund.
The robots on reveal this week attracted some of the same domestic providers that drove the EV wave. It includes battery and sensor producers. In January, Goldman Sachs predicted a $38 billion market for humanoid robots by 2035. They expect nearly 1.4 million shipments for consumer and industrial requests. The estimated cost of materials had dropped to about $150,000 each in 2023, expecting research and development costs.
When Tesla opened their Shanghai factory in 2019, Chinese authorities hoped the EV innovator would have a `catfish effect` on the industry from China. This opening means a large competitor that would make Chinese rivals build faster. The CEO of Tesla, Elon Musk declared that introducing Optimus in 2021 could be `more significant than the vehicle business over time`
UBTECH Robotics from Hong Kong tests their robots in car factories. They plan to mass manufacture and test them at an Audi plant in China. This plan means 1,000 robots would work in factories: `It is the first milestone towards a large-scale deployment.` A robot from UBTECH uses Nvidia chips, but 90% of its components are from China.
China guides the world with factory-installed production robots. The number is three times that in North America, says the International Federation of Robotics. Last November, China called for mass production of humanoid robots by 2025. This mass production will start on a smaller scale than is needed to transform EV production.
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