Xpeng’s robotics division has raised over $900 million in financing, setting a new record for a single private financing round in China’s embodied intelligence sector, with IDG Capital, Tencent, and Alibaba among the investors.

Xpeng Motors announced today that its robotics division has closed its first round of financing exceeding $900 million, with a post-money valuation of over $6.3 billion, setting a new record for a single private financing round in China’s embodied intelligence sector. The round was led by IDG Capital, with strategic investors Tencent and Alibaba participating, and Gaorong Capital—an early investor in Momenta and Zhiyuan Robotics—also joining. The funds will be allocated to robot hardware and software development, physical AI model training and optimization, high-quality data collection, construction of end-to-end mass production facilities, and global expansion. Xpeng targets monthly production of 1,000 units of its IRON humanoid robot by the end of this year, with initial deployments at its own retail stores and industrial parks, and commercial sales and delivery in China and overseas markets starting in 2027. CEO He Xiaopeng announced in June that he would personally head the robotics business, advancing humanoid robot development to the mass production stage. Multiple automakers are currently accelerating their push into the robotics sector, and Xpeng’s accumulated strengths in smart driving—including sensors, software, batteries, and supply chain management—are seen as core competitive edges. In April this year, Shanghai-based embodied intelligence startup TARS Robotics completed a $455 million+ Pre-A round, which was then hailed as the largest single private financing in China’s embodied intelligence space. Xpeng’s robotics division has now surpassed that record with its over $900 million round.