Hyundai Robotics signs a joint venture agreement with HGZN

Hyundai Robotics has signed a joint venture agreement for the production, sales, and after-sales services of industrial robots with Jiangsu Hagong Intelligent Robot (Ha Gong Zhi Neng [HGZN]) in China.

Under the agreement, the two parties plan to build a smart factory that is capable of manufacturing four different models by the end of 2019, and manufacture and sell 17,000 units by 2022.

The new agreement with the no. 1 auto welding company in China has provided Hyundai Robotics with the opportunity to capitalise on HGZN’s local sales network and secure manufacturing bases in China, which will serve as a bridge for Hyundai Robotics’ access to the Chinese robotics market.