XPeng’s Flying Car Unit Secures $150 Million Fresh Funding to Start Mass Production

XPeng Aeroht in October unveiled the concept of a detachable flying car model, the Land Aircraft Carrier

What’s new: XPeng Aeroht, the flying car subsidiary of Chinese electric carmaker XPeng Inc., has secured $150 million in a new funding round as the company pushes forward to start mass production.

XPeng Aeroht hasn’t named the investors in the latest funding round but Caixin learned that the financing was coordinated by the Guangzhou government, with at least three state-owned companies participating. XPeng Aeroht’s post-investment valuation exceeds $1 billion, sources told Caixin.