Flying car for less than Rs 1.18 crore: Chinese EV maker Xpeng plans mass production by 2024

Chinese electric-vehicle maker Xpeng unveiled a flying automobile over the weekend, which it claims will be mass-produced by 2024.

Associate HT Aero, a flying car firm that raised over $500 million in its latest funding phase last week, is developing the Xpeng X2. The limited flying automobile includes a steering wheel for road mobility and a single lever for flying settings.

Prior this year, Xpeng, one of Tesla's strongest Chinese competitors, debuted an electric sedan that was more than a third cheaper than Tesla's. In the first half of 2021, the Chinese manufacturer delivered more than 3000 vehicles, a 459% rise annualized.

The X2 has propellers which can be rolled away whenever the automobile is on the road and enlarged when the vehicle is airborne, according to an Xpeng article on their website. It features a two-person seating occupancy.

XPeng X2 unveils a new dimension of future city commute. #FlyingCars #eVTOL pic.twitter.com/TvPH5UNNy6

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Watch: Flying car completes historic first inter-city flight

— XPeng Motors (@XPengMotors) September 24, 2021

Xpeng promotes the flying automobile as a mode of transportation in city environments, such as from the airport to the workplace. The vehicle can fly for up to 35 minutes at a time. The Nasdaq-listed electric vehicle manufacturer wants to offer the car for less than one Rs 1.18 crore (1 million Chinese Yuan of US $157,000).

Vehicle manufacturers and entrepreneurs have taken notice of flying vehicles, with names like General Motors, Toyota, and Hyundai among those competing. However, as more businesses focus on flying cars, obstacles such as battery power and safety requirements exist, according to a global business news website.