Xpeng, a Chinese automotive company, is planning to make long-term investments in humanoid robots. The company has put large investments, which could reach up to $13.8 billion, on its agenda.

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

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