China's automated guided vehicle (AGV) robot, which is a valet service robot, will find its way to Nanjing by the end of October, the robot manufacturer announced on Sunday.

The upcoming flat green and purple AGV robot will park a car in just two minutes, saving drivers' time and energy. The robot needs no track and can movie 360 degrees. It works by utilizing lift motors to easily pick up a car after sliding underneath. It uses lasers to line up with an available space and parks cars even in the tightest spots.

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"The robot can go everywhere... and will reform parking in the future," Wu Hao, Yeefung's general manager, said.

With nearly 172 million vehicles running around China plus an added annual increase of 19 million units each year, AGV robots are expected to help maximize the use parking spaces by around 20 to 40 percent.

"The parking robot is designed to increase parking space," he said.

Although using this AGV robot would imply an added 70,000 yuan ($10,468) cost to each carport, Hao said it would help to earn profits by enhancing efficiency.

Pan Guofan, Guangzhou Parking Association's deputy director, said that smart parking technology could be of help by improving parking efficiency. He added that the government should consider parking spaces during urban planning and that more multi-story parking spaces should be constructed in urban places.

According to Wu, each AGV will cost over 1 million yuan ($150,000), and so far, many firms in China, Singapore, London, and the Middle East have shown interest in the technology.

TagsValet Service robot, parking robots, Yeefung, AGV robot