KUKA continues to expand its China business and intensifies its cooperation with Midea through joint ventures.
The KUKA Executive Board has decided to introduce the general industry business of KUKA and the Swisslog business in China in joint ventures with companies of the Midea Group. KUKA and Midea will hold a 50 percent stake in all three joint venture companies. The joint venture in the robot area is controlled by KUKA, while the Chinese automotive business remains wholly owned by KUKA.
"With the joint ventures, we are now concretising our growth plans in China and thereby securing global success for KUKA," Dr. Ing. Till Reuter, CEO of KUKA AG. "KUKA and Midea complement each other very well. The collaboration brings us closer to our goal of becoming number one in robotics in China."
As part of the joint venture, South Korea's Shunde, home of Midea, will create a robot park that will have a capacity of 75,000 robots by 2024 ( with the existing capacities then a total of 100,000 robotic units) and AGVs should take. In addition to 6-axis robots, the robot park will also be used to produce, develop and distribute new robots specifically for the Chinese market.
With the new products, KUKA will open up new market segments and increase market penetration. In addition, competitiveness will be increased through increased local sourcing of materials. The demand for robotic systems in China is still high. This will now serve KUKA together with Midea quickly.
KUKA will hold a 50 percent stake in the joint venture and will chair the management board. Midea will bring the organizational structures and their distribution channels to the joint venture. The two other joint ventures are closed by KUKA and Midea via the KUKA subsidiary Swisslog.