Xpeng’s flying car affiliate AeroHT prices first vehicle at US$200,000, aims to sell 5,000

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The company expects delivery to begin at the end of next year, as China’s low-altitude economy takes flight

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An Xpeng AeroHT flying car hovers during a demonstration flight at the company’s headquarters in Panyu District of Guangzhou, in south China’s Guangdong Province, on May 15, 2024. Photo: Xinhua

Martin Choi

Published: 8:15pm, 4 Jul 2024Updated: 5:34pm, 5 Jul 2024

Xpeng AeroHT, an affiliate of Chinese electric vehicle (EV) maker Xpeng, will price its first flying car at around US$200,000, with delivery expected at the end of next year.

The company plans to mass-produce the flying car in the coming two years, with a target of selling 5,000 units, Wang Tan, co-founder and chief designer, said during a panel discussion at the South China Morning Post’s China Conference on Thursday.

“The first flying car delivered by Xpeng AeroHT will be in China next year,” he said. “First we will sell it in mainland China, and after that we will sell it globally. Maybe the Middle East, maybe Hong Kong. I think we’re going to have this opportunity.”

China’s low-altitude economy, referring to businesses operating aerial vehicles below 3,000 metres in altitude, has been on the rise since 2021 when the central government introduced policies and regulations to bolster the nascent sector. The market exceeded 500 billion yuan (US$69.5 billion) last year, and is expected to reach 2 trillion yuan by 2030, according to the Civil Aviation Administration of China.

A precise release date for Xpeng AeroHT’s flying car is not yet available, Wang said.

The company, founded in 2013, began developing the vehicle a decade ago. It has a research centre and testing base in Guangzhou, the capital of southern Guangdong province and the headquarters of Xpeng, as well as research labs in Shenzhen and Shanghai.

Wang Tan, co-founder and chief designer of Xpeng AeroHT, speaks at the South China Morning Post’s China Conference 2024 ag the Ocean Park Marriott on July 4, 2024. Photo: May Tse