Founder Motor announces controlled robot-joint joint venture
Founder Motor announced plans to establish Zhejiang Fangde Robot Joint Technology as a controlled joint venture for robot-joint development, production and sales.
Evidence notes
- Founder Motor committed CNY6 million for 60% of the venture, while employee investment platform Deqing Yuanfang committed CNY4 million for 40%.
- The planned CNY10 million company covers robot-joint research, production and sales, including miniature motors, reducers and related components.
- Founder Motor said the entity would enter its consolidated accounts but cautioned that it was not expected to materially affect near-term results.
Company context
Chinese listed motor company spanning sewing-machine motors, automotive drive motors and robot-joint motor development.