XPeng’s robotics unit raises US$100 million with the aim of commercialising its business in two years

Smart mobility and intelligent robotics are being developed at a speed that is exceeding expectations, says He Xiaopeng of XPeng Motors

XPeng’s affiliates’ research capabilities have been recognised by institutions like IDG and their products will be worth the attention, analyst says

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XPeng Robotics’ ‘Little White Dragon’, a robot pony for children. Photo: Weibo

Published: 8:30pm, 12 Jul 2022

XPeng Robotics, the robotics unit of Chinese electric vehicle (EV) maker XPeng Motors, has raised US$100 million in a funding round led by IDG Capital and expects to launch its first robots for household use in two years.

The capital raised will be used to strengthen development capabilities and to attract top talent, as it accelerates commercialisation, XPeng Robotics said on Tuesday.

“Smart mobility and intelligent robotics are being developed at a speed that is exceeding expectations,” said He Xiaopeng, co-founder and CEO of XPeng Motors. “We strongly believe that a new technology-defined era will transform ideas into reality in our generation.”

Since 2020, XPeng has been actively developing new products based on its smart EV business, including a flying car and a robot pony, creating an ecosystem that He envisions as fully catering to people’s transport demands.

Smart EVs built by Chinese carmakers have hi-tech features such as high-performance batteries, autonomous driving and sophisticated in-car entertainment systems. XPeng, Shanghai-headquartered Nio and Beijing-based Li Auto are viewed as the main home-grown competitors of Tesla in China, the world’s largest EV market.

“Flying cars and rideable robots are two areas that require heavy capital investment and acquisition of top talent,” said Cao Hua, a partner at private-equity firm Unity Asset Management. “XPeng’s affiliates’ research capabilities have been recognised by institutions like IDG and their products will be worth the attention.”

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