Ubtech Robotics (HKG:9880) plans to boost its production by 100 times to create 1,000 humanoid robots in 2025, Yicai Global reported Tuesday, citing remarks by founder Zhou Jian during an earnings call.
The company intends to produce about 500 humanoid robots for industrial use and another 500 for other uses, excluding emotional support ones, the report said.
"My goal is to produce between 5,000 and 10,000 units next year," Yicai quoted Zhou as saying.
Dongfeng Liuzhou Automobile is slated to buy 20 humanoid robots from Ubtech, the report said, citing Zhou.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.