Xpeng Robotics has completed the $100 million Series A funding for its future venture focusing on robotics. The known affiliate firm of the Chinese EV manufacturer aims to roll out household robots to the public two years from now.
Xpeng Robotics Wants to Introduce Robots to Households
According to CNBC's report on Tuesday, July 12, Xpeng's robotic subsidiary Xpeng Robotics has succeeded in raising $100 million recently. The company wants to focus on delivering the robots to households in 2024.
IDG Capital spearheaded the financing for this venture. This company is currently one of the leading investment firms in the world, which specializes in acquisitions, private equity, and of course, venture capital.
As part of its plans to intensify robotics in the company, Xpeng mentioned during the release that it would use the money to bring developments in technology, product development, and robotic software and hardware improvement.
The most notable project that Xpeng launched in 2021 was the "robot unicorn," a four-legged machine that resembles the mythical creature. A person can ride on it.
Although Xpeng is more commonly known for its electric vehicles across China, the firm is eyeing to explore more options in technological development. It has the desire to test the waters for several "spin-off entities." The EV maker is now gradually moving forward with its robotics venture.
Its other branch, called HT Aero, will focus more on producing flying cars in the future. So far, it has managed to raise over $500 million in outside funding back in 2021. This particular firm has revealed that it could create a car capable of flying and driving around the highway and roads.
For Xpeng CEO He Xiaopeng, the company desires to improve customer transportation modes by launching passenger drones and robots.
Related Article : Xpeng Motors' Driverless System Vs. Tesla Autopilot: New Xpeng P5 Receives LiDAR; Better Than Tesla Model 3?
Xpeng Robotics Has a Growing Number of Employees
As per Businesswire, the Shenzhen-based company was first established in 2016 in China. Currently, it has R&D centers located in several places, including Silicon Valley, Guangzhou, and Beijing.
As of late June, more than 300 workers have been working at Xpeng Robotics. 80% of the current employees have been involved in the field of robotics, internet technology, automotive manufacturing, and design.
The company has been making waves online after it rivaled US-based automaker Tesla when it comes to robotics. The Elon Musk-owned company was reportedly working on the Optimus humanoid robot at the moment.
Tesla says that the production of these robots will kick off in 2023. It seems that the competition between the two electric vehicle firms does not end in robotics alone.
Back in early 2021, Tech Times reported that Xpeng Robotics was planning to surpass Tesla in autonomous car production.
The story suggested that the Chinese car company had added Lidar sensors to the new batch of self-driving EVs. This was made possible thanks to another startup Livox, a widely-known LiDAR sensor provider in China.
This article is owned by Tech Times
Written by Joseph Henry
