XPeng Motors announced today that its robotics business has completed a first financing round of over $900 million (approximately 6.056 billion yuan at the current exchange rate), with a post-money valuation of over $6.3 billion (approximately 42.393 billion yuan at the current exchange rate), setting a record for a single-round private equity financing in China’s embodied intelligence industry.
According to the company, the round was led by IDG Capital, with participation from Gaorong Ventures, and received support from strategic investors Tencent and Alibaba. XPeng Group continues to retain control of the robotics business.
The funds will primarily be used for software and hardware research and development, physical AI model training and iteration, high-quality data collection, construction of an end-to-end mass-production base, and global commercialization.
XPeng IRON is planned to enter mass production by the end of 2026, beginning commercial applications at XPeng stores and campuses, before officially launching and being delivered in China and overseas markets in 2027.
