XPeng's Robot Ambitions Are Winning Over VCs — Just Not the Stock Market
Published on 09/10/2026 at 03:20 | Editorial boerse-global.de
XPeng has spent this week proving it can build more than cars. Its humanoid robot, IRON, walked off the production line in Guangzhou under its own power, the company says, with the lines now officially operational and volume manufacturing targeted to begin before the end of the year. The first units are destined for XPeng's own retail stores and corporate campus. It is the clearest signal yet that the Chinese automaker wants to be read as a technology group with robotics and autonomous driving ambitions, not merely another EV manufacturer.
The capital markets, however, are reading a different story.
A Tale of Two Valuations
Fresh funding underscores how seriously outside investors take the robotics bet. XPeng's robotics subsidiary closed a Series A round worth more than $900 million, led by IDG Capital with participation from Gaorong Ventures and backing from Tencent and Alibaba. That round values the unit at over $6.3 billion — a standalone business in its own right, with blue-chip names on its cap table.
Set that against the parent company's total market capitalization of roughly EUR 9.01 billion, and the disconnect becomes stark. The market is assigning remarkably little value to the car business that still pays the bills.
The share price tells the same story. XPeng closed at EUR 9.16, hovering just above its 52-week low of EUR 9.11 — a level it touched during the prior session, when the stock slipped to EUR 9.10. From November's peak of EUR 24.40, the equity has surrendered 62 percent. Over the past 30 days alone it has shed 12 percent, and year-to-date losses stand at 49 percent.
Should investors sell immediately? Or is it worth buying XPeng?
Robots and Robotaxis Make Headlines
Beyond IRON, XPeng is pushing hard on autonomous driving. In Guangzhou, the company has secured approval to test its second-generation VLA robotaxi on designated public roads without a safety driver — by its own account a stepping stone toward a fully driverless passenger service targeted for 2027. A separate permit allows remote-controlled testing of intelligent connected vehicles in the same city.
The product pipeline is moving too. The G9L made its official debut with pre-sales opening in mainland China, and the X9 seven-seat electric van has entered pre-order in the Philippines in both standard and Luxe trims, each carrying a reservation fee and charging credit for buyers.
Deliveries Grow, but the Bottom Line Doesn't Follow
Operationally, the core car business is advancing — just not fast enough to satisfy investors. August deliveries came in at 39,107 vehicles, up 4 percent year over year. Solid, but hardly a growth spurt.
The financial picture is more mixed. In the second quarter of 2026, XPeng generated RMB 19.74 billion in revenue while posting a net loss of RMB 1.34 billion. Guidance for the third quarter points to 115,000 to 121,000 deliveries and revenue of RMB 21.7 billion to RMB 23.4 billion — a range that implies growth but offers no promise of a turnaround on losses.
Citi trimmed its price targets following those numbers, a move that speaks to how heavily the profitability question now weighs against any robotics narrative.
Sector Headwinds Add Pressure
XPeng is not suffering in isolation. Chinese EV names came under pressure after mixed August demand signals revived worries about the industry's growth trajectory. But the stock's reaction has been pronounced even by sector standards.
What emerges is a company running two narratives that refuse to intersect. One features a business testing driverless taxis, mass-producing humanoid robots and expanding across international markets. The other features an automaker that, despite rising volumes, has yet to demonstrate a convincing path to profit — and whose guidance is doing more to unsettle Wall Street than reassure it.
The robotics raise suggests external investors do see value in the future bets. They are simply pricing that value separately from the car business. Until delivery figures and loss trends in the vehicle unit turn the corner, the shares look likely to stay pinned by operational disappointment — even as the robot headlines keep coming.
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