Xpeng (XPEV) -0.83%, Chinese electric vehicle manufacturer is planning to launch a car that will not only be capable of driving on roads but also flying in the air. The rollout is planned for 2024 and the cars will be produced on a mass scale.
The project is being developed by affiliate of Xpeng, HT Aero, a startup that raised $500m in its last funding.
As reported by TechCrunch, the car is equipped with a steering wheel to drive on roads and a lever for flight mode.
According to the post that can be found on Xpeng’s website, the vehicle has rotors that can fold away when the vehicle is on a road and expand when it is in the air. There are two seats in the car. The company is promoting the flying car especially for use in urban environments, for instance when travelling from the airport to the office. The maximum flight time of the vehicle is 35 minutes. The company said the car will cost less than $157,000.
Not only Xpeng is interested in flying cars. They have also attracted the attention of other car manufacturers like General Motors (GM) -1.10%, Toyota (TM) -0.36% or Hyundai (HYMTF) -0.19%. But the interest seems not to be enough as flying cars still have some challenges to overcome. These include battery technology and safety standards as well.
Xpeng, one of Tesla’s (TSLA) +1.75% fiercest electric car-maker competitors in China, rolled out an electric sedan with prices meant to undercut its rival. Xpeng has seen record growth in China in 2021, the company claims it delivered about 30,000 cars only in the first half of this year, which indicates a 459% increase comparing to the last year.
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*Stock percentage taken on 25.10.2021 at 11:41.
*Tan, Huileng (25. October 2021). Business Insider: Chinese electric-vehicle maker Xpeng plans to mass produce flying cars by 2023 and says they’ll cost less than $157,000. Last viewed on 25.10.2021 on https://www.businessinsider.com/chinese-ev-maker-xpeng-flying-car-mass-production-plans-2021-10?r=US&IR=T
