Ant Group enters China's growing humanoid robot industry amid rising tech interest
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FILE PHOTO: People stand at the booth of Ant Group at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. REUTERS/Florence Lo/File Photo
BEIJING (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 and Xiaomi, are directly involved in the research and development of robots. Xiaomi's 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)
(Reporting by Liam Mo and Brenda Goh)
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