Xpeng Motors to Invest $413 Million in Flying Car Business This Year
Xpeng Motors has announced a significant investment of RMB 3 billion ($413 million) into its electric vertical takeoff and landing (eVTOL) aircraft division for the current year. During an annual forum organized by the EV100 think tank in Beijing on March 29, CEO He Xiaopeng revealed plans to operate an assembly plant in Guangzhou by next year. This facility aims to achieve a production capacity of 10,000 units annually, positioning it as the world’s first factory capable of mass-producing flying cars. The company projects that the global eVTOL sector will grow to a $2 trillion market over the next two decades, potentially accounting for one-fifth of the global car market's sales revenue. Xpeng Aeroht, the automaker’s subsidiary, previously submitted an airworthiness certificate application to the Civil Aviation Administration of China for its modular flying car, the Land Aircraft Carrier. This vehicle features a flight range of under 30 kilometers. The announcement underscores Xpeng's strategic expansion beyond traditional electric vehicles into the emerging urban air mobility sector, leveraging its headquarters in Guangzhou for manufacturing infrastructure.
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Xpeng Motors to Invest $413 Million in Flying Car Business This Year
Xpeng Motors has announced a significant investment of RMB 3 billion ($413 million) into its electric vertical takeoff and landing (eVTOL) aircraft division for the current year. During an annual forum organized by the EV100 think tank in Beijing on March 29, CEO He Xiaopeng revealed plans to operate an assembly plant in Guangzhou by next year. This facility aims to achieve a production capacity of 10,000 units annually, positioning it as the world’s first factory capable of mass-producing flying cars. The company projects that the global eVTOL sector will grow to a $2 trillion market over the next two decades, potentially accounting for one-fifth of the global car market's sales revenue. Xpeng Aeroht, the automaker’s subsidiary, previously submitted an airworthiness certificate application to the Civil Aviation Administration of China for its modular flying car, the Land Aircraft Carrier. This vehicle features a flight range of under 30 kilometers. The announcement underscores Xpeng's strategic expansion beyond traditional electric vehicles into the emerging urban air mobility sector, leveraging its headquarters in Guangzhou for manufacturing infrastructure.
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