A recent report from local media outlet Jiemian has suggested that products from humanoid robot manufacturer UBTech Robotics may have found their way into BYD's production lines, citing sources in the supply chain.
When questioned about the potential collaboration, Zhou Jian, CEO of UBTech Robotics, refrained from confirming the information but mentioned ongoing discussions with several new energy vehicle (NEV) companies, as reported by Jiemian.
UBTech Robotics, a prominent player in the humanoid and smart service robot industry, made its debut on the Hong Kong stock market under the ticker symbol 9880, becoming the first humanoid robot manufacturer to be listed in the region. The company's stock rose 0.94 percent to HK$90.85 ($11.63), resulting in a market capitalization of HK$38 billion by the close of trading.
Zhou Jian anticipates revealing more details about UBTech's industrial manufacturing clientele in 2024. The company, founded in March 2012, has garnered over 900 enterprise customers and sold more than 760,000 robots as of December 10, 2022, according to its prospectus. UBTech holds a 2.8 percent share in China's smart service robots and solutions market in 2022.
UBTech's revenue for 2020-2022 exhibited an upward trajectory, reaching RMB 1,008 million in 2022. However, the company has not yet turned a profit due to considerable investments in research and development and marketing expenses.
Specifically, UBTech's humanoid robotics business contributed RMB 51.84 million to its revenue in 2022, constituting 5.1 percent of the total revenue, with a consistent gross margin of over 50 percent.
BYD, the Shenzhen-based new energy vehicle (NEV) manufacturer, has not officially commented on the speculated integration of UBTech products into its production lines. BYD, which sold over 301,000 NEVs in November, aims to surpass 3 million vehicle sales in 2023.
As UBTech Robotics makes significant strides in its market presence and BYD continues to assert itself in the NEV sector, the potential collaboration adds an interesting dimension to the evolving landscape of robotics in automotive manufacturing.