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China is developing the vehicles faster than any other country

IN HIS state-of-the-nation address earlier this year, China’s prime minister, Li Qiang, spoke of fostering new engines of economic growth. In particular, he mentioned “the low-altitude economy”. The phrase conjures images of flying cars, which might seem like science fiction to some. But in this area China is moving faster than most countries. Makers of flying cars, or electric vertical take-off and landing (eVTOL) vehicles, have been getting the green light from the government.

Xpeng Aeroht, a subsidiary of the Chinese electric vehicle manufacturer Xpeng, has successfully raised $150 million to advance the production of flying cars and is pursuing additional funding.
In a press release on Monday, the company announced its plans to establish the world’s first modern assembly line dedicated to the large-scale production of flying cars in the Guangzhou Development District.

The flying vehicle, designed to accommodate four to five passengers, will feature both manual and autonomous driving modes. It boasts a 270-degree panoramic dual-seat cockpit, six wheels, and the ability to take off and land vertically, similar to a helicopter.

Pre-sales are anticipated to begin in China during the fourth quarter of this year, with the car expected to be priced at $200,000.

Wang Tan, co-founder and chief designer of Aeroht, expressed optimism about the favorable environment for flying cars in China, noting that many regions have implemented policies to support the low-altitude economy. The company aims to sell 5,000 units within the next two years.

In 2021, Xpeng Aeroht raised $500 million from a group of investors.