STOCKHOLM (dpa-AFX) - SKF AB(SKF-B.ST, SKUFF), a Swedish engineering and manufacturing company, on Thursday, announced an agreement with Leader Harmonious Drive Systems (688017.SS, 6324.T) to establish a joint venture in China to develop and supply high-precision transmission components for humanoid robot joints.
The venture will be headquartered in China and is expected to become operational by the end of 2026.
The company will hold a 60% stake in the venture.
The financial terms of the transaction were not disclosed.
The venture will combine Leaderdrive's expertise in automation products and humanoid robotics with SKF's bearing technology, manufacturing capabilities, and global supply chain to accelerate the development and production of precision transmission components for industrial humanoid robots.
The company said it will initially serve the Chinese market and also target selected international markets, including Europe, Japan, and the U.S., through SKF's global sales network.
On Wednesday, AB SKF closed trading at SEK 248 on the Stockholm Stock Exchange.
On Thursday, Leader is 0.16% higher at CNY 424.58 on the Shanghai Stock Exchange.
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