HT Aero Raises $500M for Urban Air Mobility | Xpeng Backed

HT Aero Secures $500 Million in Series A Funding

HT Aero, a company focused on urban air mobility (UAM) and affiliated with the Chinese electric vehicle manufacturer Xpeng, has announced a successful $500 million Series A funding round. These funds will be allocated towards attracting highly skilled personnel, furthering research and development efforts, and progressing towards obtaining necessary airworthiness approvals and certifications.

According to Deli Zhao, the founder and president of HT Aero, the company is focused on the development of its next-generation vehicles. This next iteration will be a uniquely integrated flying vehicle capable of functioning as both an aircraft for low-altitude travel and a conventional automobile for road use.

Xpeng X2 and Future UAM Solutions

The company recently unveiled its fifth-generation flying vehicle, the Xpeng X2. This vehicle is equipped to handle autonomous flight operations, including take-off and landing, within specific urban environments. It also features back-end systems for scheduling, charging, and flight control.

HT Aero intends to deliver UAM solutions directly to individual consumers, aligning with Xpeng’s broader strategic objectives. This consumer-focused approach differentiates it from companies targeting business applications.

Largest Funding Round in Asia

The funding round was led by Xpeng, alongside IDG Capital and 5Y Capital. HT Aero reports this represents the largest single-tranche fundraising within the low-altitude flying vehicle sector in Asia.

Additional investors participating in the round include Sequoia China, Eastern Bell Capital, GGV Capital, GL Ventures, and Yunfeng Capital. Xpeng’s position as the sole strategic investor among a group of financial investors underscores its increasing commitment to the future of mobility.

Synergies with Xpeng

Xpeng’s investment will facilitate knowledge sharing with HT Aero, particularly in the area of autonomous vehicle technology – a core competency of Xpeng. Furthermore, Xpeng will provide support in logistics and supply chain management.

HT Aero will also be able to utilize Xpeng’s established manufacturing capabilities, as confirmed by a company spokesperson to TechCrunch.

Integrated Mobility Ecosystems

HT Aero’s UAM vehicles are envisioned as a key component of Xpeng’s broader mobility ecosystem. This ecosystem aims to seamlessly integrate both driving and flying transportation options.

Xpeng’s CEO, He Xiaopeng, is scheduled to provide more detailed insights into this ecosystem at the company’s Tech Day event on October 24th. Updates on autonomous technology, flying vehicles, supercharging infrastructure, and robotic advancements will also be presented.

Industry-Wide Focus on Integrated Mobility

Honda Motor Company (HMC) has also recently announced plans to integrate diverse mobility solutions into a unified ecosystem. Marcos Frommer, HMC’s corporate communications manager, described potential scenarios where consumers could access various transportation options – including robotaxis and eVTOLs – through a single application.

“Our mission has consistently been to explore mobility solutions that are efficient, safe, and environmentally sustainable, extending beyond smart EVs,” stated Xiaopeng. “We are witnessing the convergence of three key drivers of smart mobility: groundbreaking technology, alternative energy sources, and large-scale production. This is a unique opportunity in the history of modern transportation, and we are prepared to embrace it.”