XPeng has signed agreements with several investors for its humanoid robotics business, raising more than USD900 million in the largest single-round of private equity financing in China’s embodied AI sector to date.
Sullivan & Cromwell, Fangda Partners and Shihui Partners provided legal advice on the transaction.
The financing is the first funding round for Dogotix, XPeng’s robotics subsidiary. IDG Capital invested around USD300 million, while Gaorong Ventures injected USD100 million; Tencent and Alibaba participated as strategic investors, with USD100 million each; and XPeng invested a further USD200 million. XPeng founder and chairman He Xiaopeng and senior executive Gu Hongdi invested a combined USD100 million.
According to media reports, He said during a conference call that mass production of its humanoid robots would begin by the end of 2026. Deployment would start in the first half of 2027 at locations, including XPeng stores and factory sites, followed by commercial launch and deliveries later that year.
Sullivan & Cromwell acted as international legal counsel for XPeng, led by partners Ng Kay Ian and Lin Ching Yang, with assistance from special counsel Jordan Oreck.
Fangda counselled investors IDG Capital and Alibaba, while Shihui advised Tencent.
Following the financing, XPeng will retain control of Dogotix, which will have a post-financing valuation of around USD6.3 billion. XPeng plans to implement and complete the spin-off of Dogotix within 18 months after this financing round.
Guangzhou-headquartered XPeng was founded in 2014, and listed on the NYSE in 2020 and the HKEX in 2021. Its main business covers the design, R&D, manufacturing and sale of smart electric vehicles, with a focus on developing core technologies in-house, including intelligent driving and smart cockpit systems.
XPeng said in a press release: “Proceeds from the financing will mainly be used for software and hardware R&D for its robotics business, training and iteration of physical AI models, collection of high-quality data, construction of mass-production facilities covering the entire production chain and global commercial expansion.”
XPeng introduced its humanoid IRON robot in November 2025. Designed to closely resemble humans and enable close-range natural interaction, the robot features a human-like spine, bionic muscle structures and flexible skin covering its entire body.
