Xpeng’s Flying Car Venture Secures Extra $100 Million to Supercharge Series B Round

Xpeng’s flying car arm, Aeroht, has just landed another $100 million in fresh capital, fueling its ambition to bring modular flying cars into mass production. This latest investment brings the company's Series B funding total to $250 million, positioning it on a fast track toward scaling operations and potentially going public.

The announcement was made via Weibo, where Aeroht confirmed that production timelines for its headline project, the Land Aircraft Carrier, have accelerated. According to Chairman and CEO He Xiaopeng, the new factory that will manufacture these futuristic vehicles has already been topped out. It’s set to be fully completed by the end of this year.

In August 2024, the company disclosed that it had raised $150 million in a Series B1 round while simultaneously launching a Series B2 round. The $100 million announced now comes under that second tranche. For context, Aeroht’s earlier Series A round in October 2021 raised over $500 million, valuing the firm at over $1 billion before the funding was even secured.

Aeroht is majority-owned by electric vehicle maker Xpeng and is focused on developing both eVTOL aircraft and modular flying vehicles. The Land Aircraft Carrier, introduced in late 2023, is their most ambitious product to date. It’s essentially a van on three axles that carries a two-seat eVTOL on its back. The van can recharge the aircraft between flights, and inside the ground unit, there’s space for up to five passengers. The concept is being compared to a lunar rover, except this one is headed for your city, not the moon.

The company aims to launch full-scale production and begin deliveries by 2026. Pricing is expected to come in under 2 million yuan, which is roughly 250,000 euros. Aeroht has already signed its first batch of pre-order contracts.

Meanwhile, the financial side of the business is also gaining structure. Local media reports suggest this new round of funding coincides with behind-the-scenes preparations for an IPO. Just last month, Aeroht brought on Du Chao as its first-ever Chief Financial Officer. Bloomberg previously reported that Xpeng is considering listing Aeroht in either Hong Kong or the United States and has already engaged several banks to explore the possibilities.

Despite the IPO chatter, Aeroht says its current priority is squarely focused on advancing R&D and gearing up for production. The long-term vision? To become a pioneer in the urban air mobility space by seamlessly integrating its flying car systems into Xpeng’s broader electric mobility ecosystem.