SoftBank enter robotics venture with Foxconn and Alibaba

Under the agreement – upon the completion of the investment by Alibaba and Foxconn – SoftBank Robotics' share ownership ratio will become 60%, and Alibaba and Foxconn will each hold ownership stakes of 20%. SoftBank, Alibaba and Foxconn will build a structure to bring Pepper and other robotics businesses to global markets, and cooperate with the aim of spreading and developing the robotics industry on a worldwide scale. Masayoshi Son, Chairman & CEO of SoftBank, said, “Since foundation, we have followed our corporate philosophy of ‘Information Revolution – Happiness for everyone.’ I am very excited that we will partner with Alibaba and Foxconn, and challenge to go global with our robotics business, including Pepper, as a first step to realize our vision. To bring more smiles to people around the world, we will aim to be the No.1 robotics company.” Jack Ma, Alibaba Group Founder and Executive Chairman, said, "Our partnership with SoftBank and Foxconn combines the best hardware and software talent in the industry to pave the way for robotics research and development. We are delighted to play an active role in the emerging field of robotics, that with cutting-edge technology and transformative products and services, can positively impact millions of lives.” Terry Gou, Founder and CEO of Foxconn Technology Group, said, “Foxconn is pleased to be partnering with SoftBank and Alibaba as part of our effort to drive the advancement of robotics engineering. This is a strategic area of focus for our company as we continue to advance our capabilities in intelligent manufacturing and realize our Industry 4.0 vision.”