Robotics company of Chinese electric vehicle maker Xpeng raises $100 million

XPeng remains focused on increasing sales of its electric vehicles. But he focused on building the future of the flying car and robotics business.

Qilai Shen | Bloomberg | Getty Images

XPeng Robotics, a subsidiary of the Chinese electric vehicle manufacturer XPengon Tuesday said it had raised $100 million as part of its goal to commercialize household robotics in the next two years.

The funding was led by well-known venture capital firm IDG Capital with input from XPeng.

XPeng Robotics said in a press release that the money will be used to increase investment in R&D in robotic hardware and software, recruit talent, accelerate product development, and improve technology and product competitiveness.

The company said it expects its first robots to appear in households in the next two years.

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He Xiaopeng, CEO of XPeng, sees robotics and passenger drones as an extension of the company’s transportation business.

“As technology advances, the form of mobility will evolve from wheels to wings to propellers to 4 legs or 2 feet,” he said in an interview with CNBC last year.

XPeng isn’t the only electric vehicle maker doing robotics. Tesla’s American rival working on a humanoid robot named Optimus what the company said could go into production next year.