Giant move by Chinese company: Investing $13 billion in humanoid robots

China-based automotive company Xpeng plans to make long-term investments in humanoid robots. The company has put on its agenda large investments that could reach up to 13.8 billion dollars

Xpeng, one of China's leading vehicle manufacturers, plans to invest heavily in humanoid robot technology.

Xpeng sees this sector as a long-term project and its investments could reach up to 100 billion yuan ($13.8 billion), the company's CEO He Xiaopeng said at the annual parliamentary session.

He Xiaopeng said they entered the humanoid robot sector five years ago and aim to stay in the field for the next 20 years, Securities Times reported.

“We may invest another 50 billion yuan or even 100 billion yuan,” Xiaopeng said, but did not provide information about the company's current investments.

The company stepped into the humanoid robot sector in 2020 and introduced the robot named Iron, which it developed as a competitor to Tesla Bot last November.