China’s UBTech Robotics Corp. is planning to unveil a $20,000 humanoid robot that can serve as a household companion this year, seeking to expand beyond factories. The company sees “home companion” robots as a bright spot in China partly because of the growing need for elderly care, Chief Brand Officer Michael Tam told Bloomberg News in an interview on Friday. Still, he didn’t give a timing for when the product goes on sale and said an all-purpose robot that can handle many types of household chores and look after human beings is years away as the technology isn’t ready. Hong Kong-listed UBTech, which has thus far focused on industrial customers for its humanoid robots, is eyeing a consumer market also targeted by Tesla Inc. and other companies. Chief Executive Officer Elon Musk said last year Tesla’s Optimus robot will handle many household tasks and could eventually be available to consumers for $20,000 to $30,000 each, with production starting in 2026. Carmaker BYD Co. and electronics giant Foxconn Technology Group are among users of UBTech’s industrial offerings, which come at $100,000 apiece on average, and it also has a robot used in education, according to Tam. Tam’s company has been under pressure from cut-throat competition as a coterie of Chinese firms are trying to take humanoid robots mainstream, especially after Chinese President Xi Jinping indicated this year that robotics and emerging technologies are Beijing’s top priorities.

Full story : UBTech Robotics Corp. plans to unveil a $20,000 humanoid robot as a household companion this year, expanding beyond factories.