XPeng to get full ownership of robot developer Dogotix

Shanghai (Gasgoo)- XPeng Inc. ("XPeng") recently informed that on September 29, 2023, the Sellers, the Purchaser, and Dogotix entered into the Share Purchase Agreements, under which the Sellers agreed to selling, and the Purchaser agreed to acquiring, the Sale Shares, which constitute approximately 74.82% of Dogotix's total issued shares as at the date of this announcement, for a total consideration of roughly USD98.96 million.

Photo credit: XPeng

According to the announcement, the Purchaser is XPeng Dogotix, which is a wholly-owned subsidiary of XPeng and is mainly engaged in investment holdings. The Sellers include XProbot Holdings Limited and other minority selling shareholders of Dogotix.

As of the date of this announcement, the following relationships are established: (i) Mr. Xiaopeng He, the controlling shareholder of XPeng, possesses 100% equity ownership in XProbot Holdings Limited, which in turn holds 56.83% of the total issued shares in Dogotix and functions as one of the Sellers; and (ii) XPeng holds 100% equity interests in the Purchaser, which holds 25.18% of the total issued shares in Dogotix. Consequently, XProbot Holdings Limited and Dogotix are regarded as associates of Mr. Xiaopeng He and connected entities of XPeng as per Rule 14A.07 of the Listing Rules.

Since its establishment, Dogotix has been committed to the R&D of robots featuring human-robot interaction capabilities. With a pronounced emphasis on pioneering technology, Dogotix seeks to redefine the dynamics of human-robot interaction and cooperation. As of the date of the Share Purchase Agreements, Dogotix has assembled a strong team of engineers and researchers and amassed a portfolio of 246 intellectual properties. These intellectual properties span various domains, including motion control, robotic arm control, robot autonomous navigation, motor and transmission design, robot integrated hardware design, human-robot interaction and voice control.

Upon completion of the Transaction, XPeng will have full ownership and control over Dogotix, which will enable XPeng to dedicate to the R&D of general-purpose humanoid intelligent robots.

XPeng said its mission is to drive smart electric vehicle (EV) transformation with technology, shaping the mobility experience of the future. It has foreseen that with the advent of autonomous driving and machine intelligence, the current four-wheeled transportation will be gradually transformed. It expects that a substantial part of XPeng's R&D of smart EV will be related to intelligent robotics. To achieve this, it is essential for XPeng to have long-term and consistent planning and investment in product R&D.