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