
Core Insights - The signing of a cooperation framework agreement between Dapeng New District, Shenzhen's Industrial and Information Technology Bureau, Transportation Bureau, and China FAW Group marks the establishment of China FAW's flying car headquarters in Dapeng New District [1] - The collaboration will focus on the research, production, and market expansion of flying cars, aiming to drive high-quality and large-scale development of Shenzhen's flying car industry and promote innovative policies and technological breakthroughs [1][2] - Shenzhen's low-altitude economy, a strategic emerging industry, has an annual output value exceeding 90 billion yuan and continues to grow rapidly, positioning Shenzhen as a leader in China's low-altitude economy [1][2] Company Developments - China FAW is one of the earliest state-owned enterprises to engage in the research and development of flying cars and eVTOL technology [2] - The company plans to establish FAW Qiyu (Shenzhen) Technology Co., Ltd. in Dapeng New District to conduct research, manufacturing, testing, and operation of flying cars, along with a research center and operational service center [2][3] - The Red Flag Tianran No. 1 flying car developed by China FAW features a modular design, with an aerial range exceeding 200 kilometers, and is designed for vertical takeoff and landing in restricted areas, targeting various applications including intercity transport and tourism [3]