AEROHT, an affiliate of Chinese electric vehicle (EV) maker Xpeng, has raised US$150 million in its latest round of financing, which is expected to accelerate commercialization of its $200,000 flying car, reports the South China Morning Post.
The start-up, controlled by Xpeng co-founder and CEO He Xiaopeng, said that proceeds from the Series B1 funding round would help build an advanced production line for the flying car in Guangzhou, the company's home city. The company did not reveal the names of the investors.
'The fresh capital will strengthen AeroHT's research and development, realize mass production of our products and speed up the commercialization process,' the company said.
The announcement came just a month after aeroht disclosed the $200,000 price for the vehicle. It plans to begin taking pre-orders in the fourth quarter.
SeaNews Turkey
The start-up, controlled by Xpeng co-founder and CEO He Xiaopeng, said that proceeds from the Series B1 funding round would help build an advanced production line for the flying car in Guangzhou, the company's home city. The company did not reveal the names of the investors.
'The fresh capital will strengthen AeroHT's research and development, realize mass production of our products and speed up the commercialization process,' the company said.
The announcement came just a month after aeroht disclosed the $200,000 price for the vehicle. It plans to begin taking pre-orders in the fourth quarter.
SeaNews Turkey
