China’s Robotics Execs Outline Playbook for Overseas Expansion
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To successfully expand overseas, Chinese robotics companies need to focus on finding the right single market, tailoring their business to the local needs of that market, ensuring the reliability of their products, and publishing technical papers, industry executives and investors said at a forum in Beijing.
It is better for Chinese robotics firms in the early stages of going global to choose a lone market that can deliver a higher return on investment because of the heavy upfront expansion costs for “human resources, research and development, sales, maintenance services and logistics,” said Chen Yu, a partner at Shanghai-based venture capital firm Yunqi Partners.
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- Chinese robotics firms expanding overseas should focus on one high-ROI market, tailor products to local needs, and hire local staff for operations.
- Product reliability and usability are more crucial than low pricing; publishing technical papers increases global influence but raises costs.
- Caution is advised in less mature supply chains, and after-sales technical support significantly boosts operational expenses.
- Yunqi Partners
- Yunqi Partners is a Shanghai-based venture capital firm. Chen Yu, a partner at the firm, advises Chinese robotics companies to focus on a single overseas market initially due to high expansion costs. He also emphasizes tailoring products to local needs and hiring local staff for operations. Yunqi Partners has invested in a Chinese robot-maker that successfully downsized its robots for the Singaporean market.
- RealMan Intelligent Technology (Beijing) Co. Ltd.
- RealMan Intelligent Technology (Beijing) Co. Ltd. is a Chinese company specializing in the development of humanoid robotics arms. Its CEO, Zheng Suibing, emphasizes product reliability and usability over low pricing as crucial for success in overseas markets. He also highlights the importance of continually upgrading algorithms and AI models to enhance robot capabilities.
- X Square Robot
- X Square Robot is a Shenzhen-based embodied AI company led by CEO Wang Qian. Wang emphasizes publishing technical essays to boost international influence, despite the costs. He also cautions against entering overseas markets with immature supply chains and highlights increased operational costs due to after-sales service technicians.
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