On 21 August, during the 2026 World Robot Conference, news emerged that MoJia Robotics (AiMOGA), under Chery Automobile (09973.HK), had started IPO preparation. Zhang Guibing, who also serves as president of Chery’s international business, said publicly that MoJia is discussing potential listing venues and expects to sharply raise humanoid-robot deliveries next year to join the world’s robotics giants.
The under-two-year-old humanoid-robot firm has already secured a RMB 2.5 billion post-money valuation, and is using the carmaker’s technology and channel strengths to scale overseas deliveries.
This IPO preparation is one of the few publicly landed cases of a major Chinese carmaker spinning off and capitalising its robotics business, marking a new stage where carmakers’ embodied-intelligence units formally enter capital operations. MoJia grew out of a Chery internal pre-research project in 2023 and was formally registered in January 2025 with initial registered capital of RMB 100 million, focusing on the dual tracks of “automotive plus embodied intelligence” and services robotics on Chery’s industrial base.
On shareholding, Chery Automobile holds 76.8 per cent directly, and with affiliates controls an absolute majority. From late 2025 to early 2026, MoJia completed an external angel round, raising over RMB 100 million, with registered capital rising to RMB 141.7 million and post-money valuation reaching RMB 2.5 billion. The round drew well-known industrial and financial investors including Bethel, Fuchun, IDG Capital and AgiBot. Chery still holds 96 per cent and firmly controls key voting rights.
MoJia’s push to list aims to raise capital for R&D and capacity expansion, modernise governance, and weather intense competition. Leaning on Chery’s mature vehicle-manufacturing system, MoJia built a differentiated edge, reusing car-grade servo joints, intelligent-driving SLAM navigation, multimodal interaction and supply-chain management. Its self-developed “ZhiGou Quantyu” intelligent system, with a dedicated large model and multi-robot scheduling algorithms, delivers L3-class embodied intelligence with strong reliability.
Solid commercial delivery is MoJia’s core confidence. By August 2026, MoJia had delivered over 3,000 units globally, more than 2,000 of them overseas, across 60-plus countries and regions. Its flagship humanoid MoRNING and police robot MoJia ZhiJing are deployed in commercial guidance, government enquiry and public security, and its robot-dog line has annual capacity of 15,000 units. Avoiding the industrial-robot red ocean, MoJia focuses on overseas distribution and domestic public services, with a 2027 goal of 10,000 global deliveries.
The humanoid and embodied-intelligence race is accelerating commercialisation, and carmakers, with manufacturing, technology and channel strengths, have become core participants. MoJia’s capital move is a clear signal that the sector is moving from concept R&D to commercial landing, offering a new template for carmakers’ intelligent-business second curve. Still, MoJia faces real constraints. At 19 months old, its RMB 2.5 billion valuation rests mainly on scenario orders and brand backing, with no steady net profit or operating cash flow yet. The global humanoid-robot industry is still in a technology-iteration phase, and the 10,000-unit goal needs continued cost cuts and reliability proof. The listing venue is undecided, and it will face cross-border data-compliance and related-party-transaction reviews. Overall, the IPO draws industry attention, and delivery targets, capital exit and regulatory scale will be the core metrics to watch.
Editor’s note: This is an adapted translation of the original OFweek Robotics report. It has been trimmed and restructured for readability for an international business audience.