OREANDA-NEWS.   Ningbo Cixing Co.said it would work with Anhui Efort Intelligent Equipment Co.to set up an industrial robot company.

The latter, a subsidiary of Anhui Chery Automobile Co., has an annual capacity of 1,000-plus robots. As a founder and vice chairman of the China Robot Industry Alliance, Efort created the country's first 165-kg robot.

According to Cixing's announcement, it plans to sign an agreement with the company to establish a joint venture for producing and marketing Efort industrial robots.

Under the agreement, the Zhejiang-based computerized knitting machine maker will invest 8 million yuan into the project, with a 80 percent stake in the new corporation, while the Anhui-based Efort will have a 20 percent stake by pouring 2 million yuan.