} ?>
(Yicai) March 5 -- Zhiyuan Robotics will team up with its shareholder Lingang Economic Development Group to build Shanghai's first plant able to mass-produce robots that look like humans.
Zhiyuan has penned an agreement with the industrial park developer to advance their strategic partnership, the Shanghai-based robotics firm announced recently without giving more details about the blueprint.
Founded in February last year, Zhiyuan revealed its first two-legged robot model called Raise AI only six months later. Established by Peng Zhihui, a tech blogger with over two million followers, Zhiyuan secured CNY600 million (USD83.3 million) in investments from various venture capital firms such as Lanchi, CAS Star, and CDH Investments.
Zhiyuan and the developer of industrial parks in the Lin-gang Special Area of China Shanghai Pilot Free Trade Zone entered strategic cooperation last August. Since then, they have built research and development centers, and bases for testing and manufacturing robots.
The pair aims to make robots used in the production of cars, computers, communication devices, and consumer electronics while advancing innovation and helping Zhiyuan develop more mature technologies quickly, per the earlier agreement.
Zhiyuan is set to kick-start commercial shipments this month or next month, and its second generation of products should be launched this year.
Editor: Emmi Laine