Xpeng raises over $900 million for robotics unit valued above $6.3B
Business
Xpeng, the Chinese automaker, just scored more than $900 million for its robotics division, the biggest private funding ever in China's embodied AI space.
With big names like Tencent and Alibaba backing the deal, Xpeng's robotics unit now sits at a valuation of more than $6.3 billion.
Xpeng aims 1,000 IRON robots monthly
The new funds will help Xpeng ramp up production of its IRON humanoid robots (aiming for 1,000 units a month), upgrade their AI tech, and push into global markets.
For now, these robots will roll out in retail stores and industrial campuses, but commercial sales in China and overseas are set for 2027.
CEO He Xiaopeng will personally lead the robotics business as the company grows.