XPENG Robotics

XPENG applies its automotive perception, chip, and manufacturing capabilities to Iron, a full-size humanoid unveiled for retail, showroom, and eventual home deployment. In August 2026 its robotics business raised more than $900 million at a post-money valuation above $6.3 billion — the largest single-round private raise in China's embodied-AI industry to date — led by IDG Capital, with Gaorong Ventures and strategic backing from Tencent and Alibaba; XPENG is spinning the unit into a standalone subsidiary while retaining roughly 82% ownership.