XPeng to Raise $900 Million for Robotics Unit

XPeng Inc. is raising $900 million for its humanoid robotics unit, bringing in outside investors including IDG Capital, Tencent and Alibaba as lofty valuations continue to draw capital into China’s embodied-AI sector.

The Chinese electric-vehicle maker said Monday that its robotics subsidiary Dogotix Inc. has entered into share purchase agreements with multiple investors in a financing round that values the business at about $6.3 billion after the investment.