According to state media on Monday, the CEO of Chinese electric vehicle manufacturer Xpeng views humanoid robots as a long-term project and contemplates significant investments that could reach 100 billion yuan ($13–80 billion).
On the fringes of the annual parliamentary session, CEO He Xiaopeng stated that although the company's present investment might be viewed as conservative considering its early entry into the industry, it was prepared to make much more significant investments for growth opportunities, according to the Securities Times.
"Xpeng has been working in the humanoid robot industry for five years, may continue to be in the business for another 20 years, invest additional 50 billion yuan and even 100 billion yuan," He said, without disclosing the company's current investment. In 2020, the Guangzhou-based electric vehicle manufacturer entered the humanoid robot market, and in November, it unveiled its humanoid Iron to compete with Tesla Bot.
Xpeng is one of many automakers betting on humanoids, a field in which Chinese policymakers have indicated they would like to see advancements with AI Technologies.
CEO Zhu Jiangming told reporters that Stellantis-backed Leapmotor has set up a dozens-person robot team in the pre-research stage. The products are intended for use in industrial settings such as Leapmotor factory assemblies, where humans can be replaced by robots to increase productivity.
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