Starting this Saturday, June 20, people in Japan will be able to take home SoftBank's specially designed robot known as 'Pepper,' who understands and responds to human emotion. Alibaba Group Holdings and Foxonn Technology Group have reportedly invested in SoftBank to facilitate the production of more Pepper robots and spread the 4-ft humanoid to the rest of the world.

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Masayoshi Son, the CEO of SoftBank, has noted that the company would capitalize on Foxconn's manufacturing capabilities and Alibaba's cloud technology and commercial network to produce and distribute Pepper robots globally. 

Alibaba and Foxconn reportedly invested $236 million in exchange for about 20 percent ownership each of SoftBank's robotics subsidiary, a statement from SoftBank said.

Son, who has revealed that the inspiration to create a robot with a 'heart' came from his childhood experience, noted that it is the goal of SoftBank to "bring more smiles to people around the world." He added the the company also aims to be a leader in the robotics industry.

When Pepper robots go on sale later tomorrow, they are expected to be priced at about $1,500 each (Y185,000). Reports indicate that customers would be further required to pay up to $120 (Y15,000)  and $80 (Y10,000) as part of a maintainance insurance contract, which is valid for three years.

According to the Telegraph, in autumn, businesses in the country will be able to rent Pepper robots for about $12.19 (Y1,500) per hour. Meanwhile, customers across the world will have to wait until next year to lay their hands on this product. 

The Pepper robot is reportedly designed to develop a unique character based on its interactions. The company has noted that the robot can be used as a companion, to take care of elderly people/young children, or as a household/office assistant. Pepper robots are known to sing, dance and interact impressively with people. It can reportedly read facial expressions and body language, as well as recognize human voices.

Earlier in the year, a team of software engineers won a contest after successfully programming a Pepper robot to interact with dementia patients, according to Japan Times. Experts say the list of functions that the robot can be programmed to perform are literally endless.

Alibaba CEO Jack Ma, who has said that robots will be "as popular as cars in the future," also noted that the robotics industry will catalyze technological development in other sectors. 

TagsAlibaba Group Holdings, Pepper Robot, Foxonn Technology Group, SoftBank, Robotics