Xpeng flying car

Xpeng Aeroht, the flying car subsidiary of Chinese electric vehicle maker Xpeng, has raised $150 million in a Series B1 funding round to accelerate the development and mass production of its flying cars, including the modular 'Land Aircraft Carrier.' This new funding, which brings the company's post-investment valuation to over $1 billion, was reportedly coordinated by the Guangzhou government with participation from at least three state-owned companies. The proceeds will be used to build a state-of-the-art assembly line in Guangzhou, aiming for pre-sales of the flying car to begin in the fourth quarter of this year. Xpeng Aeroht's five generations of flying cars have already completed nearly 20,000 flight tests, contributing valuable data for future models. Additionally, the company is preparing for a Series B2 fundraising round as it seeks to expand its presence in the low-altitude economic sector. With the support of Chinese government initiatives, Aeroht is positioned to lead the next generation of urban mobility solutions.