Chinese flying car company Xpeng Aeroht has completed a $150m series B1 funding round and initiated its series B2 round.

The company is preparing to construct the world’s first modern assembly line for large-scale production of flying cars in the Guangzhou development district, which will first be used for the production of the air module of its modular Land Aircraft Carrier flying car.

Founder Zhao Deli said the firm’s financial reserves were strong, and this funding round would ensure the successful development, mass production and commercialisation of flying cars.

The Land Aircraft Carrier consists of a ground module and an air module that can autonomously separate and combine. The ground module can house the air module and drive on the road. The air module, the first manned electric vertical takeoff and landing (eVTOL) aircraft developed for users in China, has a distributed electric propulsion system, meeting single-point failure safety standards. It offers manual and autonomous driving modes and has a 270˚ panoramic dual-seat cockpit.

The ground module seats four to five passengers, and is equipped with a range-extended electric drive system to recharge the air module multiple times. The vehicle has a three-axle, six-wheel design for 6×6 all-wheel drive and rear-wheel steering, offering load capacity and off-road capability. Pre-sales are expected to begin towards the end of this year in China.

This year, a lot of places in China have introduced policies to support the low-altitude economy, creating an environment for the deployment of flying cars. Since its founding, Xpeng Aeroht has focused on developing safe, reliable and efficient flying cars for users, with full-stack in-house development of core technologies including propulsion, flight control and aerial autonomy.

The company has developed the world’s first ultra-low-altitude multi-parachute rescue system for flight safety. Its five previous generations of flying cars have completed nearly 20,000 flight tests, providing data and experience for the modular Land Aircraft Carrier.

Xpeng Aeroht (www.aeroht.com) is also expanding its nationwide flight application network, with nearly 60 flying car camps signed so far, including general aviation airports, scenic spots, cultural and tourism towns, and urban suburbs, offering safe and compliant flying spaces. As policies, regulations and infrastructure continue to improve, flying cars are set to revolutionise human mobility, believes the company.