XPeng robotics arm raises $900 million for IRON robot

XPeng's robotics division raised more than $900 million in its first outside funding round, reaching a post-money valuation above $6.3 billion, led by IDG Capital with Gaorong Ventures, Tencent and Alibaba also participating. XPeng called it the largest private funding round in China's embodied-intelligence sector, with proceeds funding its IRON humanoid robot, which the company is targeting for mass production by the end of 2026 and commercial deliveries in 2027.