China: Xpeng Aeroht “Secures USD250 Million Investment From Series B Financing Round”

Chi­na-based Xpeng Aero­ht, Xpeng’s fly­ing car sub­sidiary, announced this week it has secured a USD250 mil­lion invest­ment from a Series B financ­ing round, reports cnevpost.com.

Xpeng Aero­ht announced this fund­ing news on social media Wei­bo, stat­ing that plans for mass pro­duc­tion of its Land Air­craft Car­ri­er mod­u­lar fly­ing car, will now accel­er­ate.

The fac­to­ry is locat­ed in Guangzhou, Chi­na in the city’s Devel­op­ment Dis­trict. The facil­i­ty is designed for large-scale pro­duc­tion of the Land Air­craft Car­ri­er eVTOL mod­ule, with an antic­i­pat­ed annu­al out­put of 10,000 units. Con­struc­tion began last Octo­ber and should be com­plet­ed by the Autumn of this year.

A graph­ic image of the new Xpeng Aero­ht facil­i­ty being con­struct­ed in Guangzhou

This recent invest­ment fol­lows on from a USD500 mil­lion Series A Fund­ing in Octo­ber 2021. The lat­est round comes as Xpeng Aero­ht begins to set sights on advanc­ing its Ini­tial Pub­lic Offer­ing (IPO). In May, Bloomberg report­ed that the com­pa­ny has invit­ed sev­er­al banks to par­tic­i­pate, with the IPO poten­tial­ly tak­ing place in either Hong Kong or the U.S.

At the end of last month, Xpeng Aero­ht appoint­ed Du Chao, who had worked at Deutsche Bank for 10 years, as its first Chief Finan­cial Offi­cer. Du grad­u­at­ed from the Uni­ver­si­ty of Hong Kong and led the com­ple­tion of dozens of over­seas IPO financ­ing and cross-bor­der M&A projects dur­ing his ten years at the bank.

Xpeng Aero­ht plans to begin mass pro­duc­tion and deliv­ery of its mod­u­lar fly­ing car dur­ing 2026, with a price tag not exceed­ing USD279,050, accord­ing to its Founder and Pres­i­dent, Zhao Deli.

For more infor­ma­tion

https://intl.aeroht.com

(Images: Xpeng Aero­ht)

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