Xpeng's robot business secures record $900m funding round

Xpeng has announced that its robot business has completed a first-round funding round exceeding $900 million, with a post-money valuation surpassing $6.3 billion. This marks a new record for a single private equity funding round in China's embodied intelligence sector. The round was led by IDG Capital, with participation from Gao Feng Capital, Tencent, and Alibaba, while Xpeng Group retains control over the robot business. The funds will be allocated to software and hardware development, physical AI model training, high-quality data collection, full production base construction, and global commercial expansion. Xpeng's IRON project is scheduled to enter mass production by the end of 2026, starting with commercial applications in its stores and campuses, and is set to launch and deliver units to Chinese and international markets in 2027.