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Zhaowei Machinery and Electronics, a provider of humanoid robot components to Tesla, announced plans to invest up to $100 million in constructing a new manufacturing facility in Thailand. This move aims to better serve international markets and mitigate risks associated with fluctuating trade policies and tariffs.
The company revealed that the new facility is still in the planning stages, with no further details provided, including the specific products to be produced there.
In June, Zhaowei submitted a secondary listing prospectus to the Hong Kong Stock Exchange, indicating that part of the funds raised would be allocated toward expanding its production capacity.
The company also considers establishing additional factories in Southeast Asia, Europe, and other strategic regions to enhance responsiveness to global customers, streamline supply chains, reduce logistics expenses, and shorten delivery times, according to the prospectus.
Following a morning surge of up to 2.4% in Shenzhen trading today, Zhaowei’s shares closed 1.6% higher at CNY118.94 (roughly $16.56). The broader market saw similar gains. This year, the company’s stock value has risen by 81%.
Last year, Zhaowei’s international sales increased by 35%, reaching CNY212 million (around $29.5 million), representing 14% of total revenue—up from 10% in 2023—driven by increased orders from overseas clients in the smart automotive and humanoid robotics sectors.
The company supplies Tesla with micro-precision transmission components used in the highly dexterous hands of its humanoid robots.
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