javascript hit counter
Business, Financial News, U.S and International Breaking News

Chinese language EV maker XPeng’s robotics arm raises $100 million to carry robots to households in 2 years

XPeng continues to be centered in boosting the gross sales of its electrical vehicles. Nevertheless it 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 collaborating.

XPeng Robotics mentioned in a press launch that the cash could be used to strengthen its analysis and growth funding in robotic {hardware} and software program, recruit expertise, speed up product growth and enhance expertise 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 expertise, the type of mobility will evolve from wheels to wings, propellers, four legs or 2 ft,” he instructed CNBC final 12 months in an interview.

XPengis not the one electrical carmaker transferring into robotics. U.S. rival Tesla is engaged on a humanoid robotic named Optimus which the corporate mentioned might go into manufacturing subsequent 12 months.

This text was initially revealed by Learn the unique article right here.

Comments are closed.