HT Aero, an urban air mobility (UAM) company and affiliate of China-based electric car maker XPeng, has raised $500 million in Series A funding as it seeks to stake its claim in the rapidly growing UAM industry.
HT Aero Raises $500M in Quest to Launch eVTOL
Key Takeaways:
- HT Aero, an affiliate of electric car maker XPeng, has raised $500 million in Series A funding to advance its urban air mobility (UAM) initiatives.
- The company aims to develop a fully integrated flying vehicle and automobile designed for both low-altitude air travel and road driving, targeting a 2024 rollout for individual consumers.
- This funding will accelerate the development of consumer-focused flying cars, like its Xpeng X2, within the rapidly growing eVTOL industry, which is projected to reach multi-trillion-dollar valuations by 2040.
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