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FAW-Volkswagen Automobile Co., Ltd. will invest over 2.3 billion yuan (about 324 million U.S. dollars) in introducing the production of three SUV models at its plant in north China's Tianjin Municipality, according to a cooperation agreement inked on Wednesday.
FAW VW sales increased 5% to 1,910,200 vehicles last year, including some imported Audi models, making it the largest automaker in China jointly owned by a foreign automaker.
A standout feature of Tiangong is its implementation of "State Memory-based Predictive Reinforcement Imitation Learning," an innovative approach that significantly enhances the robot's motion skills. This learning method integrates state memory algorithms with predictive modeling to improve the robot's decision-making processes, allowing it to anticipate and adapt to environmental changes with unprecedented accuracy.
Tiangong, a humanoid robot described as the world's first full-sized humanoid robot capable of running solely on electric drive, was unveiled in the Beijing Economic-Technological Development Area on Saturday, coinciding with the reveal of several AI technological breakthroughs at the 2024 Zhongguancun Forum (ZGC Forum).
Chinese local government entities have carried the mantle of cornerstone investors in first-time stock offerings in Hong Kong in the past two years as foreign investors shun deals. Their outsize role could work against the city’s capital market, market experts say.