• 31 Aug 2024 07:36 AM
• 0

XPeng Raises More Funding

On Aug. 4, China eVTOL News posted that electric-vehicle (EV) giant XPeng had raised $150M in a Series B1 funding round for its AeroHT subsidiary, and had launched a Series B2 round. The funding round will support “ongoing development, mass production, and commercialization of its flying car technology.” These rounds follow the company’s Series A round that closed in October 2021, when XPeng raised more than $500M in Series A capital funding for its subsidiary (see “China’s Rising eVTOL Industry,” Vertiflite, Nov/Dec 2021). Since acquiring eVTOL startup HeiTech (HT) in 2020, XPeng has been developing several different eVTOL models. Based on the website (www.aeroht.com), the company is primarily working on the two-seat XPeng X2 multicopter; the two-seat roadable XPeng X3 Flying Car; and the XPeng Modular Flying Car (shown), a four-seat, 6x6, all-terrain EV that carries a twoseat multicopter eVTOL. XPeng said that pre-sales of this latter vehicle, which it also refers to the latter as a “Land Aircraft Carrier,” are expected to being by the end of the year.