As a new wave of Chinese firms captures global demand for hi-tech goods, a new report highlights a strategic shift towards AI hardware and robotics
Chinese corporate expansion overseas is shifting from solar equipment to artificial intelligence-enabled industrial technology, with a new generation of companies targeting global markets from inception, according to analysts at Goldman Sachs.
“China has entered the ‘Go Global 3.0’ era,” wrote the investment bank’s team, led by Jacqueline Du, in a research note published on Tuesday.
“new three” sectors– electric vehicles, lithium-ion batteries and solar photovoltaic technology – that drove the first two export eras. Domestic firms are now targeting hardware across the AI value chain, from data centre infrastructure to automated industrial systems.
The analysts said overseas demand was largely driven by global supply shortages outside China, which created an immediate need for Chinese suppliers, as well as products benefiting from new technology adoption cycles.
Unitree Roboticsin the humanoid robotics space – treat the global market as their primary market from day one,” the analysts wrote.
These humanoid robotics firms were helping create entirely new demand pools, according to the report, with Unitree establishing a global market lead.
The Hangzhou-based manufacturer shipped over 5,500 humanoid robots last year, far above three of its US rivals: Tesla, Figure AI and Agility Robotics. Each of those companies delivered about 150 units, according to data from technology research firm Omdia cited in the Goldman Sachs report.