China’s Alibaba, Foxconn invest US$236 million in SoftBank’s robotics business

Chinese e-commerce giant Alibaba and Taiwan-based electronics manufacturer Foxconn will each invest JPY14.5 billion (US$118.25 million) in SoftBank Robotics Holdings (SBRH), under a new deal announced Thursday. 

Japan-based SoftBank Corp will invest the same amount as each of the other two parties, in a bid to make its holding company a world leader in the robotics field, according to SoftBank chairman and CEO Masayoshi Son. 

One of the aims of the tie-up is to give the company’s Pepper robot more of a global reach, the company said. It unveiled the intelligent robot last year.

Upon completion of the deal, SoftBank will own 60 per cent of SBRH, with the other two parties taking stakes of 20 per cent apiece.

“I am very excited that we will partner with Alibaba and Foxconn, and challenge to go global with our robotics business, including Pepper, as a first step to realise our vision,” Son was quoted as saying.