Xpeng’s flying car breaks investment records in China: 500 million dollars to make takeoff date in 2024 more feasible
It is the largest investment to date in a Chinese flying taxi startup. HT Aero, a subsidiary of the manufacturer Xpeng Motors, has received a series A worth 500 million dollars, with the aim of achieve your goal of taking off your flying taxi by 2024.
Founded in 2013 and with more than 15,000 flights behind it, HT Aero is already on the fifth generation of your flying taxi, an eVTOL that shares some characteristics with the Xpeng P7, the company’s electric sedan.
From electric car to flying taxi
Xpeng’s latest eVTOL model, unveiled last July, is the HT Aero X2, a vehicle that is now beginning to test it in extreme environments and high altitudes. However, it still appears to be a long way from positioning itself as a commercially viable flying taxi.
The company is targeting 2024 as the date to officially launch its flying taxi. It is a similar date to that of other companies such as Joby Aviation, Honda or Lilium. Unlike them, the Xpeng and HT Aero plans do not go through a shared vehicle service, but rather a Personal eVTOL for individual use.
Investors who have led this $ 500 million investment round include Sequoia China, Eastern Bell Capital, GGV Capital, GL Ventures and Yunfeng Capital.
Deli Zhao, founder of HT Aero, explains that “this A Series will provide us with sufficient resources to advance our research and development. Our next generation model will be a flying vehicle and a car, designed for both low altitude air travel and highway driving“.
The current HT Aero X2 is an electric vehicle with capacity for two people, whose maximum speed is 130 km / h and has a range of 35 minutes.
At the moment the HT Aero X2 does not have wheels that allow it to have a hybrid driving on the ground and in the air, but it is not ruled out that this important investment is for a future sixth generation. A powerful injection of money towards the flying car that begins to make us think that the date of 2024 may not be so far-fetched to have some potentially viable model.
Image | HT Aero