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Chinese EV maker Xpeng (NYSE:XPEV) is gearing up for a massive investment in humanoid robots, with potential spending reaching 100 billion yuan ($13.8 billion), CEO He Xiaopeng revealed during China’s annual parliamentary session.
Xpeng, which has been working in the humanoid robotics sector since 2020, introduced its Iron robot in November to compete with Tesla's (NASDAQ:TSLA) Bot. While the company’s current investment is modest, He indicated that Xpeng is prepared to allocate significantly more funds, suggesting up to 50-100 billion yuan over the next two decades, according to state media outlet Securities Times.
China's policymakers have highlighted humanoid robots as a priority for technological advancement, prompting automakers to explore opportunities in the sector. Stellantis-backed Leapmotor (HK:9863) has also entered the field, assembling a research team to develop robots for industrial applications, such as factory automation. Leapmotor CEO Zhu Jiangming stated that their robots aim to enhance efficiency by replacing human labor in assembly lines.
According to He, automakers could invest 1-2 billion yuan annually in robotics to optimize operations and explore new applications. The push into humanoid robotics aligns with China’s broader tech ambitions, positioning companies like Xpeng at the forefront of innovation beyond EV manufacturing.
With growing competition in both the electric vehicle and robotics sectors, Xpeng’s strategic bet on humanoid robots signals its long-term vision to diversify and lead in emerging technologies.
