CEO He Xiaopeng said on the sidelines of the annual parliamentary session that while the company’s current investment could be considered conservative given how it was in the early stages of entering the sector, it was ready to invest much more, the Securities Times reported.

“Xpeng has been working in the humanoid robot industry for five years, may continue to be in the business for another 20 years, invest an additional ¥50 billion and even ¥100 billion,” he said, without disclosing the company’s current investment.

The Guangzhou-based EV maker entered the humanoid robot industry in 2020 and unveiled its humanoid Iron in November to rival Tesla Bot.

Xpeng is among an increasing number of automakers betting on humanoids, which Chinese policymakers have signalled as an area they want to see tech breakthroughs in.

Stellantis-backed Leapmotor has set up a robot team of dozens of people, which is currently in the pre-research stage, CEO Zhu Jiangming told reporters today.

The products are aimed at adoption in industrial scenarios such as Leapmotor factory assemblies where robots can replace human to improve work efficiency.

Automakers could invest ¥1-¥2 billion per year in applicable scenarios to deploy humanoid robots, according to He, the Economic View reported on Tuesday.