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小鹏汇天回应IPO传闻,飞行汽车商业前景几何?
Hua Xia Shi Bao·2025-05-08 09:25

Core Viewpoint - Xiaopeng Huitian, a flying car company under Xiaopeng Motors, is considering an IPO in Hong Kong or the US, although it has not confirmed any details yet. The company is focused on business development and will share updates at an appropriate time [2][4]. Company Overview - Xiaopeng Huitian, headquartered in Guangzhou, is developing a split-type flying car called "Land Carrier," which has received acceptance for airworthiness certification from the Civil Aviation Administration of China. The factory in Guangzhou is expected to be completed in Q3 2024, with mass production slated to begin in 2026 [2][5][9]. Funding and Financials - The company has completed three rounds of financing, including over $500 million in A-round funding in October 2021, which was the largest single financing in Asia's low-altitude manned aircraft sector at that time. In April 2024, it secured a syndicate loan of 1.26 billion yuan from five banks to support the construction of its flying car manufacturing base, marking the largest loan for flying car production globally [4][5]. Industry Context - The low-altitude economy has been recognized as a strategic emerging industry in China, leading to a surge in domestic manned aircraft companies. As of Q1 2025, there are over 82,400 low-altitude economy-related enterprises in China, with a year-on-year increase of 224% in new registrations [5][6]. Market Positioning - Xiaopeng Huitian's flying car is priced at approximately 2 million yuan, with nearly 2,000 orders received. The company initially targeted the consumer market but has shifted focus to B-end applications such as emergency rescue and high-end tourism due to the high price and regulatory challenges [7][9]. Competitive Landscape - The flying car sector is distinct from eVTOL (electric Vertical Take-Off and Landing) aircraft, with the former aiming to integrate ground and aerial transportation. The commercial viability of flying cars is expected to depend on large-scale production to reduce costs, while eVTOLs may achieve quicker monetization through rental and subscription models [8][9].