XPeng said in an announcement that its robotics business has entered share purchase agreements with multiple investors to raise more than $900 million at a post-money valuation above $6.3 billion.
The round is led by IDG Capital, with participation from Gaorong Ventures and strategic investment from Tencent and Alibaba. The funding will support humanoid robot production and Physical AI research. XPeng’s Iron humanoid robot is expected to enter mass production by the end of 2026, with commercial deployments planned for 2027. [TechNode reporting]
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