Midea closes joint venture with Japanese company Yaskawa


On July 8, 2020, Midea Group announced the dissolution of its two industrial robotics joint ventures with the Japanese company Yaskawa Electric: Guangdong Midea-Yaskawa Service Robotics and Guangdong Yaskawa-Midea Industrial Robotics System. A liquidation team was formed to accept the claims and the companies ceased operations.

Both companies were dedicated to developing the business of developing and manufacturing robots for rehabilitation and patient care in China. Midea-Yaskawa Service Robotics was founded in August 2015 with a registered capital of RMB 100 million (US $ 14 million), divided into 60.1% of Midea Group and 39.9% of Yaskawa. Yaskawa-Midea Industrial Robotics System was established in September 2015 with a registered capital of RMB 100 million, divided into 51% of Yaskawa and 49% of Midea Group.

The termination of the joint ventures is due to the fact that in 2017 Midea successfully acquired the Kuka concern, the German industrial robot giant.