Xpeng, a China-based automotive company, is planning to make long-term investments in humanoid robots. The company has targeted significant investments that could reach up to $13.8 billion.

One of China’s leading vehicle manufacturers, Xpeng, is aiming to make substantial investments in humanoid robot technology.

During the annual parliament session, the CEO He Xiaopeng mentioned that Xpeng sees this sector as a long-term project and indicated that their investments could reach up to 100 billion yuan ($13.8 billion). According to Securities Times, He Xiaopeng mentioned that they entered the humanoid robot sector five years ago and plan to stay in this field for the next 20 years. Xiaopeng stated, “We can invest another 50 billion yuan, even 100 billion yuan,” but did not provide details about the company’s current investments. The company ventured into the humanoid robot sector in 2020 and introduced a robot called “Iron” in November as a competitor to Tesla Bot.