Household appliance manufacturer Midea says it will spend 10 billion Chinese money (approximately $1.5 billion) on building new robots, according to a report in the South China Morning Post.
Midea, a Chinese company which now owns 95 per cent of Germany-based industrial robot maker Kuka, will build a factory to produce 7,000 robots a year, says the report.
The announcement is said to confirm Midea’s ambition to become the leading robot maker in China. The country is estimated to have bought and installed almost 70,000 industrial robots last year.
Full story at South China Morning Post.