A video of a humanoid robot kicking the chief executive of Chinese robotics firm EngineAI to the ground has gone viral. Sure, the idea of droids that can beat humans in a fight is an alarming one. But it also shows how far the robot industry, which has considerable industrial applications and includes Tesla’s Elon Musk as a champion, has come in the past year.
While Tesla and Musk’s Optimus robot snatches airtime, China is making leaps in the humanoid race, leading to a rally in the sector’s shares. The Solactive China Humanoid Robotics Index rose 60 per cent from the start of last year to its peak in October, nearly triple the performance of the broader CSI 300 benchmark index. Sector leader Ubtech Robotics’ shares more than doubled last year, while local rival Unitree Robotics is planning a listing that is expected to value the company at up to $7bn.
The boom is drawing companies from other sectors: Chinese electric vehicle maker Xpeng plans to begin mass production of its Iron robot this year. Its stock rose 80 per cent last year.