Xpeng is said to consider flying car IPO in Hong Kong or US

For more automotive coverage and exclusive interviews, subscribe to our weekly Cars & Culture newsletter. You will receive the latest in EV's, F1, design, automotive culture and collaborations — delivered straight to your inbox. Xpeng is considering an initial public offering for its flying car unit, Xpeng Aeroht, according to people familiar with the matter. The Chinese electric-vehicle maker has invited banks to pitch for a role in an IPO that could take place in Hong Kong or the US, the people said, asking not to be identified because the information isn’t public. Deliberations are ongoing and Xpeng may decide on a different venue or not to proceed with a share sale at all, the people said. Xpeng didn’t respond to requests for comment. Aeroht’s development timeline Xpeng Aeroht was officially established in 2020, seven years after Aeroht was founded in southern China, its website shows. Since then, the company has received various approvals and funding, including $150 million in 2024, when it also launched a Series B2 funding round. Xpeng Aeroht is building an assembly line in Guangzhou, south China, initially for the air module section of its Land Aircraft Carrier, a six-wheeled offroad vehicle that houses a separate two-seat EV takeoff and landing, or eVTOL, aircraft. Xpeng Aeroht expects to complete the manufacturing facility this year and start mass production and delivery in 2026. Xpeng Aeroht describes itself as Asia’s biggest flying car company. Others include US-listed EHang Holdings Ltd., which in March was certified by China’s aviation regulator to operate civilian autonomous aerial vehicles. EHang’s shares are up 21% this year. The trillion-dollar market opportunity With heavyweights like Boeing Co. also looking to get involved in the industry, Morgan Stanley has estimated that the market for urban air mobility could be $1 trillion by 2040. Xpeng Aeroht is part owned by Xpeng and its Chairman and Chief Executive Officer He Xiaopeng. Xpeng delivered 35,045 EVs in April, surpassing 30,000 units for the sixth-straight month. The EV maker’s shares have climbed over 60% this year, giving it a market value of HK$142 billion ($18.4 billion). By Julia Fioretti

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Xpeng is said to consider flying car IPO in Hong Kong or US