Xpeng robotics subsidiary raises US$900 million in funding
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Xpeng’s robotics subsidiary, Dogotix, secured US$900 million in a private-equity funding round, resulting in a valuation of US$6.3 billion. The investment included US$600 million from backers such as Alibaba Group Holding, Tencent Holdings, IDG Capital, and Gaorong Ventures, alongside a US$200 million contribution from Xpeng. This capital infusion occurred despite Xpeng reporting a 179% increase in second-quarter net losses to 1.34 billion yuan. The funding aims to support Xpeng's development of humanoid robots and physical AI technologies to compete globally with firms like Tesla.
Consequences
The influx of capital is intended to facilitate the large-scale adoption and commercialization of general-purpose humanoid robots and autonomous driving technologies. This move signals Xpeng’s strategic pivot to expand its robotics division to capture global interest in embodied artificial intelligence.
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