In recent years, humanoid robots have evolved from a futuristic concept featured in science fiction films to a rapidly developing sector in both the tech and automotive industriesOne recent event underscoring this shift was the release of Tesla's humanoid robot figurine, which quickly sold out despite its modest price tag of 199 yuanThe figurine, a 1:10 scale replica of Tesla's second-generation humanoid robot, mirrors both the robot's appearance and its design movementsThis incident not only reflects the growing excitement around humanoid robots but also highlights the increasing demand for innovations in robotics.

Humanoid robots have been a focal point of interest for the global capital markets, with discussions around them intensifying as numerous industry players, including automotive giants and tech companies, continue to make significant strides in this fieldThese robots, characterized by their human-like forms and movements, are seen as the next major leap in automation, with the potential to revolutionize various industries, particularly manufacturing and service sectors.

In late December, GAC Group (601238.SH) made waves in the robotics community with the unveiling of its third-generation humanoid robot, GoMate, at the 2024 China Robotics Network Annual Conference

The GoMate robot boasts 38 degrees of freedom and incorporates an innovative, industry-first "variable wheeled foot" structure that combines both four-wheeled and two-wheeled foot modesThis technological breakthrough is aimed at making the robot more adaptable in diverse environments, enhancing its ability to navigate and perform complex tasks.

GAC Group has set ambitious goals for the GoMate, planning for mass global production of self-developed components by 2025. In addition, the company intends to expand its usage across multiple industries, with small-scale production targeted for 2026 and further mass production following soon afterThis move underscores the growing competition and innovation in the humanoid robot sector, with numerous global automotive giants vying for a position in this emerging market.

Tesla (TSLA.US) remains a major player in this space, but the field is expanding rapidly in China as well

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Domestic companies such as BYD (002594.SZ) and Xpeng Motors (09868.HK) are making significant inroads into humanoid roboticsBYD has been actively recruiting robotics engineers, signaling its intent to enter the sector, while Xpeng recently introduced its second-generation humanoid robot, which is expected to play a key role in improving efficiency on production lines and enhancing customer experiences at sales sites.

The involvement of leading companies in the automotive industry is particularly noteworthyIndustry giants such as CATL (300750.SZ), Inovance Technology (300124.SZ), Sanhua Intelligent Controls (002050.SZ), Top Group (601689.SH), and Hengli Hydraulic have all publicly expressed interest in expanding into roboticsThe overlap between automotive and robotics technology is particularly evident, as many of the core technologies in autonomous vehicles—such as artificial intelligence (AI), software algorithms, and advanced sensors—are transferable to humanoid robots. 

Analysts point out that intelligent vehicles can essentially be viewed as robots on four wheels, making it logical for automotive manufacturers to leverage their expertise in robotics technology

Moreover, automotive factories, which are already major consumers of robotic technology, represent a large potential customer base for humanoid robotsBy entering the robotics industry, these automotive giants are not only looking to reduce costs and improve efficiency but are also preparing to compete in a rapidly evolving technological landscapeThe strategic shift is not impulsive but a long-term, calculated effort to diversify operations and secure a competitive edge in the future.

Beyond the automotive sector, other major tech players are also jumping into the humanoid robot raceCompanies like ByteDance, Meituan, Xiaomi, Ant Group, and Baidu have all signaled their intentions to either develop humanoid robots or leverage AI and machine learning to advance the fieldMany of these companies possess deep financial resources, positioning them to make substantial investments in the sector.

At the same time, robotics manufacturers worldwide are beginning to scale up production

Companies like Figure, Agility Robotics, Zhiyuan Robotics, Yushu Technology, Leju, and UBTECH Robotics are at the forefront of developing humanoid robots for commercial useFor instance, Figure Robotics’ CEO recently announced on the X platform that its Figure02 robot had officially been delivered to customers and was generating revenueSimilarly, Zhiyuan Robotics has reported that its humanoid robots are now deployed in client factories, with the cumulative number of units shipped continuing to rise.

The humanoid robot industry, once the stuff of sci-fi movies, is now accelerating toward mass commercializationProjections for 2024 indicate that global shipments of humanoid robots will surpass 2,000 units, marking the beginning of the commercial era for humanoid robotsLeading manufacturers already have backlogs of over 10,000 orders, and by 2025, it is expected that global shipments could range from 10,000 to 20,000 units, signaling that 2025 could be the year humanoid robots enter large-scale production.

The long-term prospects for humanoid robots are promising, especially in a world where labor costs are rising steadily

Automation, driven by robots, is becoming an increasingly attractive solution to mitigate these rising costsIn fact, experts anticipate that the widespread deployment of humanoid robots could revolutionize the workforce in the coming decadesAs the technology matures, humanoid robots could take over a variety of tasks, particularly in dangerous and labor-intensive jobs, potentially transforming industries like manufacturing, logistics, and even healthcare.

Goldman Sachs has forecast that the global humanoid robot market could reach $38 billion by 2035, with a total shipment volume of 1.4 million unitsThe robots would be expected to replace 10% to 15% of dangerous and automotive manufacturing jobs, providing a significant boost to productivityAs the market grows, there is also the potential for the average price of humanoid robots to decreaseIndustry insiders believe that when annual production hits 10 million units, with a price tag of $20,000 per unit, the total market value could balloon to $200 billion—equivalent to over a trillion yuan in market space.

The commercial potential of humanoid robots is vast, and as the technology matures, the sector is poised for significant growth