Haier seeks control of Shenzhen-listed robotics firm in US$343 million deal
Haier, a leading Chinese home appliance manufacturer, is set to acquire a controlling stake in Step Electric, a struggling industrial robotics firm, for approximately 2.5 billion yuan (US$343 million). This move signifies Haier's deeper foray into the robotics sector, aligning with China's broader strategy to enhance its manufacturing capabilities through automation and intelligent technologies.
Step Electric, despite its efforts to innovate in robotics for various industries including semiconductors and humanoid robots, has faced financial difficulties, reporting significant losses in recent years. Haier's acquisition is expected to provide Step Electric with much-needed resources and expertise. This acquisition also supports China's ambitious plan, initiated in 2021, to become a global leader in robotics, aiming for substantial growth in annual robotics sales and increased robot density in its manufacturing sector.
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Haier, a leading Chinese home appliance manufacturer, is set to acquire a controlling stake in Step Electric, a struggling industrial robotics firm, for approximately 2.5 billion yuan (US$343 million). This move signifies Haier's deeper foray into the robotics sector, aligning with China's broader strategy to enhance its manufacturing capabilities through automation and intelligent technologies.
Step Electric, despite its efforts to innovate in robotics for various industries including semiconductors and humanoid robots, has faced financial difficulties, reporting significant losses in recent years. Haier's acquisition is expected to provide Step Electric with much-needed resources and expertise. This acquisition also supports China's ambitious plan, initiated in 2021, to become a global leader in robotics, aiming for substantial growth in annual robotics sales and increased robot density in its manufacturing sector.
via SCMP Full Text Feed
