Midea to boost robot production capacity by fourfolds in China
Midea Group plans to increase industrial robot production capacity by fourfolds to 100,000 units annually by 2024, the Shenzhen-listed firm said on Thursday.
The company will do so by building a new manufacturing and research plant in Midea’s headquarters in Shunde in Guangdong Province with expected annual production capacity of 75,000 units in 2024. Combined with Midea-Kuka’s current capacity, the annual production capacity will hit 100,000 units then, the company said in a statement to the Shenzhen Stock Exchange.
Midea and Kuka, which the former acquired last year, also decided to set up three joint ventures to “ultimately boost a fast and comprehensive growth in the automation business”, to tap the fast-growing demand in smart manufacturing, smart healthcare and smart logistics in the China market. The joint ventures will be equally owned by the two partners. Midea said in the statement.
There will be 1 million industrial robots in China by 2025, and Chinese manufacturers like Midea are set to gain 50 percent share, Olaf Gehrels, general manager of Midea Robotics Company, said recently.
Midea-Kuka displays latest robots used in healthcare during an industry show this month.
