According to statistics from the Industrial Research Institute of Shenzhen New Strategy Media, as of June 2024, there were over 160 humanoid robot manufacturers worldwide, of which over 60 were in China, over 30 in the US and in Europe. There were about 40 people. In addition to having the largest number of manufacturers, China stands out in the way the EV sector supports most of these robotics companies.
China has emerged as the world’s largest EV market and manufacturer, in part thanks to government subsidies and coordinated efforts from the high-tech sector. In 2024, 54% of cars sold in China were electric or hybrid, compared to 8% in the US. China has also become the first country to reach annual production of 10 million “new energy vehicles” (NEVs), a category that includes all vehicles, including all vehicles, partially or fully powered. Ta.
Having achieved this incredible growth, EV companies have accumulated important capital, technical capabilities and industrial fame. Large companies like Li Auto, Xpeng and Nio, although it was founded about 10 years ago, it became a common name. Traditional manufacturers that have moved to EV production such as BYD and Geely have emerged as major players in the technology world thanks to their engineering skills and AI-powered driving capabilities.
However, despite the rapid expansion of the EV market, the industry’s profit margins have reached a downward trajectory. From 2018 to 2023, the number of NEV companies plummeted from over 480 to around 40 due to a combination of consolidation and bankruptcy. Data from China’s National Bureau of Statistics shows that profit margins in China’s automobile sector have fallen from 6.1% to 4.6% since 2021. Last year, many Chinese EV companies frequently made large layoffs. Companies like BYD are offering advanced autonomous driving capabilities with increasingly affordable models, with intense prices and technological wars continuing.
Fierce competition has created an urgent need for new means of fundraising and growth. “This situation forces automakers to seek cost savings and create stories that will strengthen investors’ trust.
Technical overlap is a key factor driving EV companies into the robotics field. Both fields rely on functions such as environmental awareness and interaction, using algorithms that can process sensors and external information to guide machine movement.
Initially developed for autonomous driving, Lidar and depth cameras are now being reused for robotics. Xpeng’s iron robot uses the same path planning and object recognition algorithms with EVs to allow for accurate navigation in factory environments.
