XPENG AEROHT secures $150 million in Series B1 funding

Shanghai (Gasgoo)- On August 5th, XPENG AEROHT, a flying car (eVTOL) company affiliated to XPENG, announced it has secured $150 million in Series B1 funding and has simultaneously initiated the Series B2 funding.

The company stated that this round of financing will ensure the smooth progress of XPENG AEROHT's flying car R&D, large-scale volume production, and commercialization.

In addition, XPENG AEROHT is set to construct the world's first flying car factory with a modern assembly line in the Guangzhou Development District. This factory will primarily produce the flying body component of the company's modular flying car, known as the "Land Aircraft Carrier."

The pre-sale of this modular flying car is scheduled to begin in the fourth quarter of this year.

According to the official introduction, XPENG AEROHT's first five generations of flying cars have already completed nearly 20,000 flight tests, accumulating extensive flight data and experience for the "Land Aircraft Carrier." While advancing the commercialization process of its flying car products, XPENG AEROHT is also accelerating the deployment of its flying car application network nationwide. To date, the company has successfully signed contracts with nearly 60 flying camps, including general aviation airports, scenic spots, cultural tourism towns, and urban suburbs, providing users with safe and compliant flying spaces.

XPENG AEROHT explained that its modular flying car consists of two parts: a land vehicle and a flying body that can automatically detach and reattach. The land vehicle can fully house the flying body and drive on the ground. The flying body is a manned, pure electric vertical take-off and landing aircraft with a distributed electric propulsion system, meeting single-point failure safety requirements and offering both manual and automatic driving modes. It features a 270-degree panoramic dual-seat cockpit. The land vehicle, described as a "mothership," is a 4/5-seat intelligent driving cockpit equipped with a range-extended electric drive system, capable of multiple energy replenishments for the flying body. The entire vehicle adopts a three-axle six-wheel design, enabling 6×6 all-wheel drive and rear-wheel steering.