Miracle Automation (天奇股份, 002009.SZ), a domestic industrial equipment manufacturer, yesterday announced on a stock trading platform that it will roll out a humanoid robot in partnership with UBTech (优必选科技), China’s humanoid robot pioneer, by the end of this year.
In response to investor inquiries, a representative of Miracle Automation stated that the prototype of the robot is scheduled to make its debut before the end of December, with applications primarily in industrial production.
The two firms set up a joint venture called Uqirobot (优奇智能) in Wuxi, a city in eastern China’s Jiangsu Province, in September 2020.
Based on UBTech’s strengths in algorithms and design of robotic structure, the startup’s first humanoid model is expected to be able to walk bipedally, said Miracle Automation.
Miracle Automation holds a 22% stake in the new venture, with UBTech owning the rest, amounting to a registered capital of 100 million yuan (US$14 million).
According to their joint statement, the startup will churn out humanoid robots to cater to industrial applications, beginning with automaking.
From then on, Uqirobot will venture into other sectors of intelligent manufacturing and related use cases, according to a stock exchange filing by Miracle Automation on August 30, 2023.
Specifically, it aims to produce servo motors and joint modules, among other core parts, to be incorporated into humanoid robotics, in a bid to achieve cost reduction necessary for a scale-up of the industry.
Miracle Automation was founded in 1984 and listed on Shenzhen Stock Exchange as a member of the first batch of small and medium-sized enterprises to go public on China’s A-share market.
The company’s business areas now consist of smart equipment, recycling equipment, heavy machinery and lithium battery recycling.