Hyundai Heavy Industries Holdings To Make Industrial Robots In China

(@ChaudhryMAli88)

Hyundai Heavy Industries Holdings to make industrial robots in China

Hyundai Heavy Industries Holdings said Thursday that it has signed an agreement with Chinese robot maker Hagong Intelligent Robot Co. as it makes its foray into that country's growing industrial robot market.

SEOUL, (UrduPoint / Pakistan Point News - 20th Sep, 2018 ) :Hyundai Heavy Industries Holdings said Thursday that it has signed an agreement with Chinese robot maker Hagong Intelligent Robot Co. as it makes its foray into that country's growing industrial robot market.

The two sides agreed to set up a joint venture and build a smart factory, which will have an annual production capacity of up to 20,000 industrial robots, by the first half of next year, Hyundai said.

Hyundai said it expects the joint venture to sell more than 17,000 industrial robots in China by 2022.

The agreement was signed at the China International Industry Fair in Shanghai earlier in the day.