ABB to build world's most advanced robot plant in Shanghai

An industrial robot arm created by ABB. The company plans to build the world's most "advanced, automated, and flexible robotics factory" in the country's financial hub Shanghai, thepaper.cn reported. The move is part of a strategic cooperation agreement signed between ABB and the Shanghai municipal government, in which the Swiss tech giant will invest $150 million expanding its business in what is the world's largest robotics market. ABB is said to have seen its accumulative investment in Shanghai exceed $2.4 billion since it first entered China's market in 1992. Shanghai has become the first city in the country to become home to the world's four leading industrial robot makers, namely Switzerland's ABB, Germany's KUKA, and Japan's FANUC and YASKAWA.