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Chinese EV maker Xpeng’s robotics company raises $100 million

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XPeng is still focused in boosting the sales of its electric cars. But it has been focusing on building out future businesses in flying cars and robotics.

Qilai Shen | Bloomberg | Getty Images

XPeng Robotics, the affiliate company of Chinese electric carmaker XPeng, on Tuesday said it raised $100 million as part of its aim to commercialize household robotics in the next two years.

The financing was led by high-profile venture capital firm IDG Capital, with XPeng also participating.

XPeng Robotics said in a press release that the money would be used to strengthen its research and development investment in robotic hardware and software, recruit talent, accelerate product development and boost…



Source cnbc.com

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