Minxin Xuteng has made an announcement stating its intention to co-invest 12 million yuan alongside Shanghai Qingbao Engine Robot Co., Ltd., with the aim of establishing Xuqing Lingdong (Shanghai) Embodied Intelligence Technology Co., Ltd. In this venture, Minxin Xuteng will inject 7.8 million yuan in cash, securing a 65% equity stake. Meanwhile, Shanghai Qingbao will contribute 4.2 million yuan worth of intellectual property rights, thereby holding a 35% stake. The newly formed joint venture will primarily concentrate on the research and development, production, and marketing of dexterous hands.
