XPeng-backed HT Aero announced that they have successfully raised over $500-milllion in a Series A financing round that will see funds being used to develop flying cars. Their latest-generation model is claimed to be a fully integrated flying vehicle and automobile, designed for both low-altitude air travel as well as road driving. An official roll-out is expected to happen some time in 2024.
The current prototype weighs just 1,235-pounds, but can only fly for around 35-minutes when fully charged. No other information was provided about its propulsion system, but it does have a two-rotor system that may need a backup to keep things running in case of an emergency or just a parachute. We’ll keep you posted as more information about its availability and pricing becomes available.
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HT Aero’s deeply roots in proven technology and sophisticated R&D capabilities will help it jumpstart the industrialization of flying cars. We believe that the flying vehicle sector will be a trillion-dollar market. The rapid technological evolution of batteries, autonomous driving and materials science provide the synergies needed to create a new paradigm for flying cars,” said Mr. Guangfu Cui, Partner of IDG Capital.
