Chinese electric vertical takeoff and landing (eVTOL) developer XPeng AeroHT, a subsidiary of the carmaker of the same name, has closed a US$150 million Series B1 funding round.
The Guangzhou-based firm will deploy the fresh capital it has raised from investors in order to further the development of XPeng’s “Land Aircraft Carrier” and build its assembly line.
The “Land Aircraft Carrier” is a modular vehicle concept that combines an air and a land component. It consists of a six-wheel off-road car that can deploy a two-seater eVTOL in its rear compartment.
Lift for this small electrically powered aircraft is provided by an array of electrical rotors laid out horizontally on top of the passenger capsule.
This vehicle is not yet certified. XPeng AeroHT is expected to start taking pre-orders for the Land Aircraft Carrier before the end of 2024.
Despite the successful closure of this funding round, the eVTOL aircraft developer is reportedly already looking to raise an additional Series B2 round.