Top Group plans to develop robot industry and expand smart electric vehicle business

In addition to the automotive business, Top Group is actively developing the robotics industry. In 2022, the company will follow up on emerging market demand, develop robotic actuator products, and enter a new incremental market. In July 2023, the company will split and establish a robotics division to promote the coordinated development of the robotics business and the automotive parts business. At the beginning of this year, the company announced that it plans to invest 5 billion yuan to build a robot core component production base in Ningbo, using the electric drive system as a starting point to achieve the expansion from the smart electric vehicle business to the robotics business.