Chinese automakers follow Tesla into humanoid robots as Xpeng raises $900 million
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Chinese automakers including Xpeng, BYD, and Chery are pouring capital into humanoid robots, mirroring Tesla's Optimus push. Xpeng's robotics unit raised over $900 million at a valuation above $6.3 billion, the largest private round in China's embodied AI sector. The rush comes as automakers see thin car margins and bet robots will be the next profit engine.
Key Facts
- Xpeng's robotics unit raised more than $900 million at a post-money valuation of over $6.3 billion, led by IDG Capital with participation from Gaorong Ventures, Tencent, and Alibaba.
- Chery Automobile's robotics unit AiMOGA reportedly began preparing for an IPO this month, while BYD unveiled a humanoid robot called Xiao Di.
- Xpeng founder He Xiaopeng and co-president Brian Gu invested about $100 million of their own funds into the robotics unit's recent round, according to the Wall Street Journal.
- Hyundai plans to bring Boston Dynamics' Atlas humanoid robot to its Georgia factory this year and deploy robots for parts sequencing by 2028.
- Hyundai is opening a U.S. Robot Metaplant Application Center this year to teach robots movements like lifts and turns, in partnership with Google DeepMind.
Xpeng's Robotics Push
Xpeng's robotics unit raised more than $900 million at a post-money valuation of over $6.3 billion, led by IDG Capital with participation from Gaorong Ventures, Tencent, and Alibaba. The company described the round as the largest single-round private financing ever recorded in China's embodied AI industry. Xpeng founder He Xiaopeng and co-president Brian Gu invested about $100 million of their own funds into the round, according to the Wall Street Journal. Xpeng's bet is on Iron, a humanoid robot with a realistic human shape built for commercial deployment.
Broader Chinese Automaker Moves
Chery Automobile's robotics unit AiMOGA reportedly began preparing for an IPO this month, while BYD unveiled a humanoid robot called Xiao Di. Other Chinese automakers, including Changan, GAC, Li Auto, SAIC, and Seres, are also developing humanoid robots. Michael Dunne, CEO of advisory firm Dunne Insights, said Xpeng is the Chinese automaker that most closely watches and follows Tesla's initiatives. Dunne noted that Xpeng founder He Xiaopeng sees razor-thin profit in cars on the near horizon and views robots as much more promising.
Hyundai and Boston Dynamics
Hyundai plans to bring Boston Dynamics' Atlas humanoid robot to its Georgia factory this year and eventually deploy the robots for tasks like parts sequencing by 2028. Hyundai partnered with Google's AI research lab DeepMind to speed up the development of Atlas. The Korean automaker is opening a U.S. facility this year called a Robot Metaplant Application Center, which will teach robots how to map movements like lifts and turns.
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Chinese automakers follow Tesla into humanoid robots as Xpeng raises $900 million
