Chinese automakers are making substantial moves into the development of humanoid robots, driven by advancements in physical capabilities and AI techniques. Xpeng's robotics unit recently completed a private financing round, raising more than $900 million at a post-money valuation exceeding $6.3 billion. This funding, led by IDG Capital with participation from Gaorong Ventures, Tencent, and Alibaba, has been described by Xpeng as the largest single-round private financing in China's "embodied AI" industry.
The investment reflects a broader trend among Chinese automotive companies. AiMOGA, the robotics unit of Chery Automobile, is reportedly preparing for an initial public offering, while BYD has introduced its own humanoid robot named Xiao Di. Other major Chinese automakers, including Changan, GAC, Li Auto, SAIC, and Seres, are also engaged in developing humanoid robots.
According to Michael Dunne, CEO of Dunne Insights, Xpeng is particularly focused on autonomy and has made a significant commitment to humanoid robots, closely following Tesla's initiatives. Xpeng founder He Xiaopeng and co-president Brian Gu have personally invested approximately $100 million into the robotics unit's recent fundraising round. Xpeng's focus is on its Iron humanoid robot, designed for commercial deployment.