Chinese EV maker XPeng’s robotics component gives $100 million to household robots

Chinese EV maker XPeng’s robotics component gives $100 million to get robots to households in 2 years

July 13, 2022: On Tuesday, XPeng Robotics, the affiliate company of Chinese electric carmaker XPeng, said it increased $100 million to commercialize household robotics in the coming two years.

The financing is led by high-profile venture capital firm IDG Capital, with XPeng participating.

XPeng Robotics said that the funds would strengthen its research and development investment in hardware and software, recruit talent, accelerate product development and improve technology and competitiveness.

The company expects its first robots to enter households in two years.

The previous year, XPeng Robotics launched a ridable four-legged “robot unicorn” as its first project.

While XPeng’s primary obsession is growing its electric vehicle sales in China and abroad, the company keeps an eye on the future through spin-off entities.

XPeng Robotics focuses on robots, while one more company known as HT Aero, which raised over $500 million from outside investors last year, puts its steps into flying cars. HT Aero publicized a vehicle that could fly and drive on roads last year.

Xiaopeng, CEO of XPeng, is seeing robotics and passenger drones as an extension of the focus on transportation of the company.

“With the development of technology, the form of mobility evolving from wheels to wings, propellers, four legs or 2 feet,” he told CNBC.

XPengis, not the only electric carmaker, is driving into robotics. U.S. rival Tesla works on a humanoid robot named Optimus, which the company said could go into production in the coming year.

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Chinese EV maker XPeng’s robotics component gives $100 million to household robots