Xpeng Huitian Secures $150M Funding for Flying Car Development

Small Xpeng Aviation Secures $150 Million in Series B Funding

Small Xpeng Aviation, the flying car development arm of Xpeng Motors, has recently secured a significant $150 million in Series B funding, marking the largest financing within China's flying car industry this year. The funding comes from three state-owned enterprises - Guangkai Holdings, Guangzhou Financial Holding Group, and Guangzhou Development District Investment Group. Founder Zhao Deli announced plans to commence the construction of a new factory near the Xpeng Motors factory in the Huangpu District at the end of September 2024 or early October, with production slated to begin by the end of July 2025, aiming for an annual capacity of 10,000 units. Deli also revealed that the flying car is expected to receive airworthiness certification in the second half of 2025, with large-scale deliveries set to commence in 2026. Furthermore, the "Land Carrier" prototype of the segmented flying car from Small Xpeng Aviation made its debut on September 4th, featuring a range-extended hybrid pickup and a multi-rotor electric vertical takeoff and landing (eVTOL) aircraft.

Key Takeaways

• Small Xpeng Aviation secures $150 million in Series B funding with support from three state-owned institutions.
• Expected airworthiness certification for the flying car by the second half of 2025, with large-scale deliveries set to begin in 2026.
• The new factory is scheduled to commence construction at the end of September 2024, with production starting by the end of July 2025 at an annual capacity of 10,000 units.
• Small Xpeng Aviation's showcase of the "Land Carrier" prototype, comprising of a range-extended hybrid pickup and an eVTOL aircraft.
• Small Xpeng Aviation, a subsidiary of Xpeng Motors, is accelerating the mass production of flying cars.

Analysis

Small Xpeng Aviation's $150 million funding accelerates the industrialization of flying cars, impacting Xpeng Motors' stock price and the competitive landscape of China's new energy vehicle market. The state-owned support signifies government backing for high-tech industries, potentially attracting more capital into the flying car sector. The construction of the new factory and the expansion of production capacity indicate rapid industry growth, offering short-term employment and local economic boost, with long-term potential to transform urban transportation modes. The showcase of the "Land Carrier" prototype represents technological advancement, and if successfully commercialized, could reshape the logistics and travel industry.

Did You Know?

• Flying Car

  • Explanation: A flying car is a type of vehicle that blends road travel with aerial flight capabilities, revolutionizing transportation by alleviating road congestion and providing an alternative travel mode in urban and remote areas.

• Airworthiness Certificate

  • Explanation: An airworthiness certificate certifies the safety of an aircraft for flight, issued by aviation authorities to comply with safety standards and regulations, ensuring legal operation.

• Range-Extended Hybrid Pickup

  • Explanation: A hybrid vehicle designed for pickup trucks, combining an electric motor with a traditional internal combustion engine to extend the vehicle's range, offering the efficiency of electric vehicles with the utility and power of a traditional pickup truck.