Tesla’s (TSLA) Chinese robotics rival Unitree is likely to be valued at $7 billion when it launches its planned IPO in Shanghai.
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STAR Listing
According to a Reuters report, it is not yet clear how much Unitree Robotics will seek to raise in the IPO but in China a company with a valuation of around 50 billion yuan has to issue over 10% of its shares.
Unitree said last week on its X account that it was actively advancing the IPO preparations and was expecting to submit the listing application documents in the fourth quarter of the year. It did not provide other details, including a timeline for a potential listing.
It is understood that Unitree, which has more than 30 investors according to local corporate registry disclosures, plans to list on Shanghai’s technology-focused STAR Market.
In a funding round in June, Unitree won new investors, including tech giants Alibaba (BABA), Tencent (TCEHY) and automaker Geely Holding Group (GELYF).
The move comes only days after Tesla unveiled its Master Plan Part IV, highlighting AI and robotics as the primary drivers of much-needed future growth. Chief Executive Elon Musk claims that about 80% of Tesla’s long-term value will come from its Optimus humanoid robot project.
Medal Winners
Unitree released a number of videos last year showing its robots walking, climbing and carrying loads. It also won multiple medals at the World Humanoid Robot Games this summer, including the 4X100 relay.
President Xi was likely cheering from his armchair as he provides more support to China’s tech firms in the area of robotics, semiconductors and AI, to compete with U.S. rivals such as Tesla.
Unitree’s founder, Wang Xingxing, along with AI startup DeepSeek, was among a handful of executives who attended a meeting with the President in February. It was widely seen as the marking of a new era for China given Xi’s previous lukewarm attitude to private enterprises.
Analysts believe that a resurgent Chinese IPO market could help fund Beijing’s technology self-sufficiency drive and keep the country’s “unicorns” – firms with valuations of over $1 billion, at home and not looking to list in the U.S.
According to Morgan Stanley, the number of robots that resemble and act like humans is likely to reach nearly 1 billion by 2050, with China currently leading in development.
The humanoids market could surpass $5 trillion by 2050, including sales from supply chains and networks for repair, maintenance and support. They have even been tipped to replace star footballers like Lionel Messi or Florian Wirtz by 2050.
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