A robotics affiliate of China's largest auto exporter Chery Automobile (9973.HK) is gearing up for an IPO to fund future growth and investments, its chief said on Wednesday, as competition intensifies in the country's fast-growing humanoid robot sector.
AiMOGA Robotics is in talks over potential listing venues and expects to sharply increase humanoid robot deliveries next year as it seeks to join the ranks of global robotics heavyweights, Zhang Guibing, head of the business and president of Chery International, told Reuters on the sidelines of the World Robot Conference in Beijing.
"We're making the relevant preparations now ... and currently in discussions with several (IPO) locations," he said, adding a listing could provide funding for future technology investments while enhancing governance, transparency and operational standards.
Reuters reports the IPO plans for the first time. Zhang declined to provide details on the timing or venue of a potential listing.
AiMOGA said in a statement on Friday that it had not taken "any substantive steps toward an IPO". Chery holds almost 77% of the company, according to Chinese corporate data platform Tianyancha.
Separate listings of subsidiaries and affiliates are not uncommon at Chery — with auto parts supplier Bethel Automotive listing on the Shanghai exchange in 2018 and robotics and automation firm Efort going public on Shanghai's STAR Market in 2020.
The move comes as investor enthusiasm for China's robotics industry surges. Unitree (688836.SS), the country's best-known humanoid robot maker, soared nearly six-fold in its Shanghai trading debut on Wednesday, while startup Lumos Robotics told Reuters that it was also considering a stock market listing next year.
POLICE ROBOTS
China's robotics industry has become a new battleground in the Sino-U.S. technology rivalry, drawing investment from automakers and technology firms betting that advances in AI and autonomous systems will speed the commercial adoption of humanoid robots.
Companies are racing to find viable applications beyond factories, from retail and customer service to policing and public safety.
Incubated by Chery in January 2025, AiMOGA has delivered more than 3,000 robots globally, with 2,000 overseas, and operates in more than 60 countries and regions.
The company aims to deliver 10,000 robots globally next year and eventually aims to rank among the "world's top" robotics firms, Zhang said.
Earlier this year, AiMOGA unveiled humanoid police robots, with 110 units already deployed across multiple Chinese cities to assist with traffic management, crowd guidance and public-safety awareness campaigns.
Zhang said the company identified traffic management as a promising application after finding that traffic police often work in harsh conditions — exposed to extreme weather, air pollution from vehicle emissions and a higher risk of accidents.
He said robots could help address labour shortages in such roles and that the need could be even greater overseas, particularly in regions such as the Middle East and Southeast Asia, where high temperatures and heavy rainfall make the job more challenging.
The robotics startup developed a bipedal humanoid robot initially deployed in Chery dealerships and has been expanding into public-service applications.
China's robotics industry resembles the country's electric vehicle sector a few years ago, with many companies emerging rapidly and competing intensely.
Zhang expects consolidation over time to strengthen the industry's technology base, but he also said, "competition, particularly on costs, is likely to be fierce".
To diversify beyond the domestic market, the company is expanding overseas, with service robots and companion robots leading its initial overseas expansion, Zhang said.
When asked about a possible foray into the U.S., Zhang said: "the company's ambition was to serve global markets, but that expansion would require adapting to different local regulations and customer needs."
He said in May that Chery is considering entering the U.S. market at a suitable time.
Chery, China's largest vehicle exporter for the past several years, is among a growing number of Chinese automakers investing in humanoid robotics, betting that advances in AI and autonomous systems can help accelerate the commercialisation of service robots.
"Humanoid robots could take about a decade to mature before seeing rapid adoption," Zhang said.
(This story has been corrected to include AiMOGA's statement, in paragraph 5)
