Japan's SoftBank Corp said on Thursday it is setting up a joint venture with Chinese online shopping giant Alibaba Group Holding and electronics supplier Foxconn Technology to sell its human-like robot Pepper around the world.
The robots - which the mobile phone and Internet conglomerate envisions serving as baby-sitters, medical workers or even party companions - would go on sale to general consumers from Saturday for 198,000 yen ($1,610.54) each plus monthly fees and insurance, the companies said in a joint statement.
The waist-high robot, which is already used in stores including SoftBank's mobile phone shops, can learn and express human emotions, according to the Japanese firm.
Foxconn already produces Pepper but a general sale, especially with the involvement of Alibaba, will require greater investment, according to some analysts.
Alibaba's founder Jack Ma Yun said the robotics industry will help fuel scientific breakthroughs in areas such as medical treatment, public service, and intelligent homes.
SoftBank said it would have a 60 percent stake in the joint venture, named as Soft Bank Robotics Holdings Corp (SBRH), with Alibaba and Taiwan-based Foxconn each spending 14.5 billion yen for 20 percent stakes.
"The investment in the SBRH is expected to pave our way toward robotics industry and help us better explore opportunities in the intelligent field," Zhang Jianfeng, president of retail marketplaces at Alibaba, said in a press release e-mailed to the Global Times by the e-commerce giant on Thursday.
Alibaba said it will also cooperate with SBRH to research robotics application and user experience.
Robotic technology could create an economic impact of $1.7 trillion to $4.5 trillion by 2025, according to a report by McKinsey Global Institute.
And China is expected to become one of the largest robotics markets, as the central government is promoting the "Made in China 2025" strategy, which focuses on five major projects including intelligence manufacturing.
SoftBank Chief Executive Masayoshi Son said the partnership was a first step to becoming a top robotics business.
"We will aim to be the No.1 robotics company," he said.
