Xpeng Robot Unit to Raise $900 Million from Investors Including Alibaba
Xpeng Inc.'s robot unit, Dogotix, is set to raise $900 million in funding led by investors such as Alibaba Group Holding Ltd. and Tencent Holdings Ltd., signaling growing interest in the automaker's expansion into humanoid robotics. The fundraising includes $600 million from external investors, $200 million from Xpeng itself, and an additional $100 million from top executives. If all warrants are exercised, the total could exceed $1.4 billion. The deal values Dogotix at over $6 billion post-transaction, reflecting confidence in Xpeng's pivot toward high-tech fields beyond electric vehicles. The involvement of major investors like IDG Capital and Gaorong Ventures underscores this strategic shift. Despite a 40% decline in shares year-to-date, the stock dipped slightly before the announcement. Xpeng is leveraging its growing robotics division to diversify into emerging technologies such as flying cars and humanoid robots.
