Latest news with #UBTech
Yahoo
27-05-2025
- Business
- Yahoo
China's UBTech takes direct shot at Tesla with $20K humanoid home robot
The race to bring humanoid robots into homes is heating up, with major tech firms betting on what many see as the next frontier in consumer technology. Tesla, Figure AI, and startups across China, the US, and Japan are all developing robots designed to handle domestic chores. With aging populations and labor shortages driving demand, humanoids are quickly shifting from science fiction to commercial reality. Now, Chinese firm UBTech Robotics Corp. is joining the push with a $20,000 household companion robot set to launch later this year. The Shenzhen-based company, known for high-end industrial robots, is pivoting toward consumer use. At the BEYOND Expo in Macau, Chief Brand Officer Michael Tam told Bloomberg, 'Home companion robots are a bright spot in China, partly due to the growing need for elderly care.' UBTech expects to ship around 1,000 units of the new robot in 2025. Though a release date hasn't been announced, the company plans to boost production tenfold by 2026. Tam warned, however, that a robot capable of full caregiving is still years away. UBTech built its reputation with industrial humanoids used by firms like BYD Co. and Foxconn Technology Group. These robots sell for about $100,000 each. The company also markets educational robots, but now aims to break into homes. Tesla looms large as a rival. Elon Musk said last year that Tesla's Optimus robot will perform household tasks and could sell for $20,000 to $30,000 by 2026. Musk recently posted a video of Optimus vacuuming, taking out the trash, and cleaning with a brush and dustpan, highlighting Tesla's rapid progress toward home deployment. Both companies are currently in early production stages. UBTech's pricing undercuts the high-end market and places it in direct competition with Musk's vision of a robot butler. China's growing elderly population is creating urgent demand for caregiving solutions. UBTech believes its new robot can help fill that gap. Government support adds momentum. President Xi Jinping has named robotics a top national priority, encouraging firms to scale quickly. Tam said the robot could reach broad adoption among older adults. Analysts estimate it could serve up to 30% of elderly Chinese households. The Chinese government reportedly views robotics as a crucial part of its broader strategy to support an aging population without putting additional strain on the human workforce. This policy backing may give UBTech an edge in securing funding and accelerating development. UBTech's consumer shift comes as it faces financial strain. The company lost over 1.1 billion yuan ($153 million) last year. Its stock has fallen 45% over the past 12 months in Hong Kong. Still, Tam welcomes the pressure. 'White-hot competition creates a lot of pressure on a single company, but for the whole industry, it helps preserve good companies and eliminate bad ones,' he told Bloomberg. As humanoid robots inch closer to everyday life, UBTech's shift to the home market marks a high-stakes bet. Whether the company can overcome mounting financial pressure and fierce competition or get outpaced by deeper-pocketed rivals like Tesla remains to be seen.
Bloomberg
23-05-2025
- Business
- Bloomberg
A $20,000 ‘Home Companion' Robot From China to Debut This Year
China's UBTech Robotics Corp. is planning to unveil a $20,000 humanoid robot that can serve as a household companion this year, seeking to expand beyond factories. The company sees 'home companion' robots as a bright spot in China partly because of the growing need for elderly care, Chief Brand Officer Michael Tam told Bloomberg News in an interview on Friday. Still, he didn't give a timing for when the product goes on sale and said an all-purpose robot that can handle many types of household chores and look after human beings is years away as the technology isn't ready.
South China Morning Post
22-05-2025
- Business
- South China Morning Post
AI hardware start-ups get fresh boost in Shenzhen with launch of US$1 billion funds
China's southern technology hub of Shenzhen is ramping up support for hardware powered by artificial intelligence (AI) , unveiling two new investment funds totalling 7 billion yuan (US$1 billion) to back start-ups in robotics and other smart devices. The funds – a 5 billion yuan vehicle and a separate 2 billion yuan pool – were announced on Thursday at the opening of the Global AI Terminal Expo 2025, a three-day event drawing more than 300 smart hardware exhibitors, according to the organisers. The expo is hosted by the Shenzhen Artificial Intelligence Association and the city's Convention and Exhibition Centre Management, with support from the municipal Industry and Information Technology Bureau and the Shenzhen Artificial Intelligence Industry Office. The event showcased the latest in Chinese AI and robotics innovation. Huawei Technologies exhibited its first foldable tablet running HarmonyOS , the company's in-house operating system developed after losing access to Google services on mobile and, later, Microsoft Windows. Huawei began presales of the device on Monday, with shipments set to start on June 6. Attendees at the Global AI Device Expo in Shenzhen try Huawei's new foldable tablet. Photo: Coco Feng UBTech Robotics, a Hong Kong-listed humanoid robot maker, introduced Meng UU – a palm-sized doll with embedded AI that enables it to interact with users. EngineAI, a Shenzhen-based robotics developer whose humanoid robot became the world's first to complete a front flip in February, unveiled its inaugural quadruped robot, expanding beyond its previous focus on bipedal machines. The event also marked the launch of the Shenzhen AI Glasses Industry Alliance, reflecting growing industry hopes that AI-powered eyewear could become the next must-have consumer device after smartphones. As part of its new Project Aura, Google recently tapped Chinese augmented-reality (AR) glasses maker XReal as a partner Among other highlights, TCL-owned AR glasses maker RayNeo exhibited its upcoming X3 Pro AR and AI glasses, set to launch later this month. RayNeo is China's largest AR eyewear brand, capturing 50 per cent of the domestic market in the first quarter, according to market intelligence firm Runto. Meta-Bounds – a Chinese smart glasses start-up that has supplied its tech to Oppo Lenovo and SoftBank-backed ThinkAR – also demonstrated a prototype weighing less than 35 grams.
South China Morning Post
19-05-2025
- Business
- South China Morning Post
China's industrial robot output soars, as start-ups Unitree and UBTech take lead
China's production of industrial robots surged by more than 50 per cent in April compared with a year earlier, according to official data, highlighting the growing demand driven by a national frenzy for robotics. The national output of industrial robots jumped 51.5 per cent year on year to 71,547 units last month, according to the latest data released by the National Bureau of Statistics on Monday. The growth outpaced the 16.7 per cent increase seen in March and the 27 per cent growth recorded in the January-February period. In the first four months of the year, total output reached 221,206 units, marking a 34.1 per cent increase compared to the same period last year, when growth was 9.9 per cent. The rapid expansion of China's industrial robotics sector comes as a long list of robotics manufacturers push to integrate humanoid robots and other automation machines into factory environments. 02:27 Robotics star Unitree opens new manufacturing plant amid China's humanoid robots craze Robotics star Unitree opens new manufacturing plant amid China's humanoid robots craze Shenzhen-based UBTech Robotics , a rising player in the industry, planned to mass-produce humanoid robots by the end of this year, a company executive said in an interview with the South China Morning Post in January.
Forbes
15-05-2025
- Business
- Forbes
China Market Update: Alibaba, NetEase, & KE Holdings Report Q1
CLN Asian equities were mixed but mostly lower overnight after substantial gains from the 90-day US-China tariff deal, as India and Pakistan outperformed, while Thailand and Hong Kong underperformed. The South China Morning Post reported that US-bound shipping orders increased nearly 300% after the 90-day pause was announced, reflecting still-strong demand from US businesses and consumers for China-made goods despite tensions. Airplane makers in Mainland China were sold off on the potential for a resurgence of purchases of US-made Boeing airplanes as a condition of a deal between China and the US. CNY has been highly resilient amid "Art of The Deal" tariffs, appreciating 0.8% versus the US dollar since April 2nd. Huawei has partnered with UB Tech to build humanoid robots. The collaboration will allow UB Tech, a robot manufacturer, to benefit from Huawei's newfound competency in the high-end chips required for training and maintaining AI systems. Humanoid robots are a recurring theme in China and in the markets. When visiting China, I am always impressed by the ubiquity of robots for cleaning and delivering room service. Mainland markets outperformed Hong Kong somewhat. Volumes were near the one-year average in both markets, as Mainland investors were rare net sellers of Hong Kong-listed stocks and ETFs. Mainland investors were net sellers of Tencent after the company released stronger-than-expected Q1 results yesterday, which included high profit margin expansion. The company's success in Q1 highlights the continuing strong consumer rebound in China because it derives a significant amount of its revenue from advertising and marketing services, which are often the highest margin segments of its business. % changes are year-over-year unless otherwise indicated. Alibaba Alibaba had a decent quarter, though it slightly missed estimates on net income and top-line revenue. Cloud growth accelerated significantly to 18% growth, driven by strong adoption of AI models, especially Alibaba's industry-leading Qwen. Company executives have mentioned the immense cross-selling opportunities for Alibaba Cloud as inference, i.e. large language models, become more mainstream. China commerce (Taobao & Tmall) increased 12% as 88VIP members, the high-spending category, have reached over 50 million. The company bought back $16.5 billion worth of shares during fiscal 2025, which ended 3/31/2025. NetEase NetEase had a strong beat on net income and a moderate beat on top line revenue for the first quarter of 2025. It is good to see that the reactivation of their games partnership with Microsoft is not curtailing margins. Games revenue accelerated quite forcefully to 15%. The company also boasts a strong games pipeline, with titles including MARVEL Mystic Mayhem, Destiny: Rising, and Ananta. NetEase's open world games will also likely benefit from its AI-enhanced non-player characters (NPCs). KE Holdings KE Holdings, which operates the 'Beike' online and brick-and-mortar real estate platform, which is akin to Zillow or Street Easy in the United States, reported first quarter results that missed significantly on top line revenue, but beat on net income. The recent uptick in China's real estate, especially new housing, market benefited KE's revenue growth, though not as much as analysts had expected. But, the uptick in new housing sales may have led to the better-than-expected margin. New Content Read our latest article: New Drivers For China Healthcare: AI Med-Tech Innovation, Cancer Treatment, & Favorable Balance of Trade Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
