# HGZN and Hyundai Heavy Industries form robot JV in China

Jiangsu Hagong Intelligent Robot (HGZN) and Hyundai Heavy Industries Holdings signed an agreement to set up a joint venture, Hagong Hyundai Robotics Co., Ltd., with registered capital of 200 million yuan. HGZN will hold 70% and Hyundai 30%.

- Type: Partnership
- Announced: 2018-12-24
- Where: China, China
- Value: $29.0M (200.0M CNY)
- Status: announced
- Capacity: 17000 units by 2022
- Products: industrial robots, cleaning robots, controllers
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Jiangsu Hagong Intelligent Robot Company](https://endata.com/companies/17766.md)
- [Hyundai Heavy Industries](https://endata.com/companies/1382.md) (partner)
- [Jiangsu Hagong Intelligent Robot Company](https://endata.com/companies/17766.md) (partner)
- [Hyundai Robotics](https://endata.com/companies/36996.md) (partner)

## Sources

- [en.imsilkroad.com](https://en.imsilkroad.com/p/124573.html), 2018-12-24: "HGZN announced Monday that it has signed an agreement with Hyundai Heavy Industries Holdings Co., Ltd. on setting up a joint venture (JV), Hagong Hyundai Robotics Co., Ltd."
- [roboticsandautomationnews.com](https://roboticsandautomationnews.com/category/news/page/563/), 2019-01-30: "The new agreement with the no. 1 auto welding company in China has provided Hyundai Robotics with the opportunity to capitalise on HGZN’s local sales network."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.