In order to launch preorders for its modular flying car in Q4 of this year and begin consumer deliveries in Q4 of 2025, Xpeng Aeroht, a subsidiary of EV manufacturer Xpeng, raised $150 million in a Series B1 fundraising round.
The additional funding will support the development, manufacture, and marketing of Xpeng Aeroht’s modular flying car, an electric vertical take-off and landing (eVTOL) vehicle with autonomous ground and aerial mode switching.
The modular flying car’s Type Certificate (TC) application was approved by the Civil Aviation Administration of Central and Southern China (CAAC) in March.
The company stated that it would establish a research and development center for flying cars in Guangzhou. The facility’s primary purpose would be to manufacture the flying car’s flight module.
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Three years after its founding, in 2013, Xpeng Aeroht’s flying automobile prototype successfully completed its first test flight. In June 2022, the company completed a deal with Rockets Capital, its current investor, for an undisclosed amount.
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According to a McKinsey & Company analysis from January, China may be the first nation to see widespread use of commercial eVTOLs. According to a Reuters story, Chinese drone manufacturer EHang Holdings began selling its EH216-S model flying taxi on Taobao in March for 2.39 million yuan ($332,060).
After obtaining the TC and the Standard Airworthiness Certificate (AC) for its EH216-S model, EHang was awarded the first-ever Production Certificate (PC) by CAAC in April, which was a significant milestone for the Nasdaq-listed drone manufacturer. eVTOL firms can start producing their eVTOL aircraft in large quantities and using them for commercial purposes thanks to the PC.
About Xpeng Aeroht
XPENG AEROHT is Asia’s largest flying automobile company. Using intelligent vehicles and current aviation, they aim to create the safest intelligent electric flying automobile for individuals, offer 3D transportation products and solutions.
