The Robotics Wing of Chinese EV Manufacturer XPeng Raises USD 100 million to Provide Robots to Residences in Two Years
XPeng Robotics, a subsidiary of Chinese electric carmaker XPeng, revealed on Tuesday that it has raised USD 100 million as part of a two-year plan to commercialise domestic robotics. IDG Capital, a very well venture capital firm, lead the fundraising, with XPeng reportedly investing.
The funds will be used to enhance R&D investment in robotic hardware and software, hire talent, accelerate product development, and improve technical and product competitiveness, according to a news release. The company predicts that its first robots would enter homes in the next two years.
The funds will be used to enhance R&D investment in robotic hardware and software, hire talent, accelerate product development, and improve technical and product competitiveness, according to a news release. The company predicts that its first robots would enter homes in the next two years. As its first effort, XPeng Robotics released a ridable four-legged robot unicorn last year.
While XPeng's major focus remains on increasing electric vehicle sales in China and, more lately, worldwide, the business has been looking ahead through spin-off entities. XPeng Robotics concentrates on robots, but HT Aero, which secured more than USD 500 million from outside investors last year, is working on flying automobiles.
Last year, HT Aero revealed an automobile that can both fly and drive on roadways. Passenger drones and robotics, according to the Xiaopeng, CEO of XPeng, are extensions of the company's transportation expertise. He told CNBC last year that as technology advances, the type of movement would shift from wheels to wings, propellers, four legs, or two feet.
XPeng is not the only electric vehicle manufacturer experimenting with robotics. Tesla, a competitor in the United States, is developing Optimus, a humanoid robot that might go into production next year.
Robots already play a significant role in industry around the world, serving as a platform for technological innovations and a fundamental concept of commercial industry, continuing to drive electronic advancement and intellectual upgrading, and even a great resource for attempting to deal with inhabitants going to age and trying to improve people's standard of living in overall.
Individuals are slowly demanding intelligent, safe robots and user-friendly. China is the world's leading producer of mechanical systems, with a robot density in industrial sectors of much more than 246 robots per 10,000 employee’s Autonomous systems are being used in 52'major' areas of the economy such as electronics, automobiles, metallurgy, illumination industry, chemical industries, and medical services, as well as 143'medium' industry sectors (according to the UN classification, China's automotive industry covers 207 medium categories and 41 major categories).
Service robotics have already been used in a wide range of industries, such as warehousing and shipping, arts and entertainment, cleaning services, and healthcare. Meanwhile, deployment is still lagging social and economic growth, as well as customers hopes of a better lifestyle.