The hype around humanoid robots isn’t particularly new. Thanks to Tesla CEO Elon Musk and his Optimus robot, as well as the myriad videos of Boston Dynamics’ Atlas robot, the idea has been gaining traction. Behind the buzz, real progress is being made. The physical capabilities of robots continue to improve, and researchers believe AI techniques can enable complex robots capable of learning almost any task.

This has encouraged a new batch of companies to jump into the promise of profits from humanoid robots. And many of the latest entrants are Chinese automakers. Xpeng’s robotics unit raised over $900 million earlier this week, while AiMOGA, Chery’s robotics unit, is reportedly preparing for an IPO. BYD unveiled Xiao Di, a humanoid robot, while other Chinese automakers, including Changan, GAC, Li Auto, SAIC, and Seres, are also developing humanoid robots.

Among them, Xpeng is the Chinese automaker that most closely follows Tesla’s initiatives, according to Michael Dunne, CEO of Dunne Insights. “He sees razor-thin profit in cars on the near horizon. Robots look much more promising,” Dunne told TechCrunch. “Xiaopeng and Xpeng co-president Brian Gu are bullish enough that they’ve put their own funds behind the robotics unit. According to the Wall Street Journal, the pair invested about $100 million into the recent fundraising round.”

Xpeng’s bet is on Iron, a humanoid robot with a realistic human shape, built for commercial deployment. Chinese automakers bring a manufacturing edge, but question is if they can catch Tesla on the AI side. There are many other companies developing humanoid robots, including Agility Robotics, Apptronik, and Figure, all chasing the same goal: commercial deployment at scale.

Hyundai-owned Boston Dynamics is getting closer. Hyundai plans to bring Boston Dynamics’ Atlas humanoid robot to its Georgia factory this year and eventually deploy the robots for tasks like parts sequencing by 2028. The Korean automaker, which partnered with Google’s AI research lab DeepMind to speed up the development of Atlas, is opening a U.S. facility this year called a Robot Metaplant Application Center, which will teach robots how to map movements like lifts and turns. Other automotive companies, including supplier Mobileye, which acquired humanoid robot startup Mentee Robotics earlier this year for $900 million, are also jumping. Even Rivian is dabbling in robots with its Mind Robotics spinout, although its robots are not expected to look quite like the humanoids in development elsewhere.