Technology
Xpeng Robot Unit to Raise $900 Million From Likes of Alibaba
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Xpeng Robot Unit to Raise $900 Million From Likes of Alibaba Xpeng Inc.’s robot unit plans to raise $900 million from investors including Alibaba Group Holding Ltd. and Tencent Holdings Ltd., bolstering the automaker’s push into humanoid robots. Under the agreement, the company’s Dogotix subsidiary will raise $600 million from external investors, $200 million from Xpeng itself, and $100 million from top executives, Xpeng said in a statement on Monday. The funding will value Dogotix at over...
Xpeng Robot Unit to Raise $900 Million From Likes of Alibaba
Xpeng Inc.’s robot unit plans to raise $900 million from investors including Alibaba Group Holding Ltd. and Tencent Holdings Ltd., bolstering the automaker’s push into humanoid robots.
Under the agreement, the company’s Dogotix subsidiary will raise $600 million from external investors, $200 million from Xpeng itself, and $100 million from top executives, Xpeng said in a statement on Monday. The funding will value Dogotix at over $6 billion after the transaction, it said.