China is making strides in the race against Elon Musk’s Tesla Inc. (NASDAQ:TSLA) to develop battery-powered humanoid robots for use in electric vehicle (EV) assembly lines. What Happened: The World Robot Conference in Beijing showcased humanoid robots from over two dozen Chinese companies, designed to operate in factories and warehouses. This push towards robotics is backed by President Xi Jinping’s policy of fostering “new productive forces” in technology, Reuters reported on Friday. Both Beijing and Shanghai launched a $1.4 billion state-backed fund for robotics earlier this year. The robots…
