Xpeng Robot Unit Secures $900M Boost

Xpeng Inc.'s robot division is making significant strides by planning to secure $900 million in new funding. This crucial investment is slated to come from notable backers, including major technology firms Alibaba Group Holding Ltd. and Tencent Holdings Ltd.

The company's subsidiary, known as Dogotix, is set to raise $600 million from external investors. The remaining $300 million is expected to be raised through other means, according to initial reports.

This substantial financial backing underscores Xpeng's commitment to its ambitious push into the development and manufacturing of humanoid robots. The funds will be instrumental in advancing the automaker's technological capabilities and market presence in the rapidly evolving robotics sector.