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HomeAutomobileChinese language EV maker Xpeng’s robotics firm raises $100 million

Chinese language EV maker Xpeng’s robotics firm raises $100 million

XPeng continues to be centered in boosting the gross sales of its electrical vehicles. But it surely has been specializing in constructing out future companies in flying vehicles and robotics.

Qilai Shen | Bloomberg | Getty Photos

XPeng Robotics, the affiliate firm of Chinese language electrical carmaker XPeng, on Tuesday mentioned it raised $100 million as a part of its intention to commercialize family robotics within the subsequent two years.

The financing was led by high-profile enterprise capital agency IDG Capital, with XPeng additionally taking part.

XPeng Robotics mentioned in a press launch that the cash can be used to strengthen its analysis and improvement funding in robotic {hardware} and software program, recruit expertise, speed up product improvement and enhance know-how and product competitiveness.

The corporate mentioned it expects its first robots to enter households within the subsequent two years.

Learn extra about electrical autos from CNBC Professional

He Xiaopeng, CEO of XPeng, sees robotics and passenger drones as an extension of the corporate’s deal with transportation.

“With the event of know-how, the type of mobility will evolve from wheels to wings, propellers, 4 legs or 2 toes,” he informed CNBC final yr in an interview.

XPengis not the one electrical carmaker shifting into robotics. U.S. rival Tesla is working on a humanoid robot named Optimus which the corporate mentioned could go into production next year.

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