Kuka is to combine its Chinese general industry business and the Chinese Swisslog business by setting up joint ventures with Midea Group companies. The respective shareholders of the joint venture companies will each have a stake of 50%.
The Robotics joint venture will be controlled by Kuka and the Chinese automotive business will fully remain with Kuka.
These joint ventures will significantly increase market penetration in China and expand Kuka’s Chinese business.
A new production site will be set up in the Shunde (China) Technology Park where new products will be developed and, following more extension phases until 2024, up to 75,000 robot units per year will be produced. With existing capacities this will total up to 100,000 robot units being made in China per year by the company.
The Supervisory Board of Kuka Aktiengesellschaft approved the founding of the joint venture companies and the investment in the Technology Park in Shunde on March 21, 2018.