Xpeng Aeroht, a subsidiary of the Chinese electric vehicle manufacturer Xpeng, has successfully raised $150 million to advance the production of flying cars and is pursuing additional funding.

In a press release on Monday, the company announced its plans to establish the world’s first modern assembly line dedicated to the large-scale production of flying cars in the Guangzhou Development District.

The flying vehicle, designed to accommodate four to five passengers, will feature both manual and autonomous driving modes. It boasts a 270-degree panoramic dual-seat cockpit, six wheels, and the ability to take off and land vertically, similar to a helicopter.

Pre-sales are anticipated to begin in China during the fourth quarter of this year, with the car expected to be priced at $200,000.

Wang Tan, co-founder and chief designer of Aeroht, expressed optimism about the favorable environment for flying cars in China, noting that many regions have implemented policies to support the low-altitude economy. The company aims to sell 5,000 units within the next two years.

In 2021, Xpeng Aeroht raised $500 million from a group of investors.

#China #XpengAeroht #ElectricFlyingCars #Guangzhou