China's Xpeng plans to launch a flying electric vehicle as early as 2024

HT Aero, a subsidiary of Chinese electric car maker Xpeng, on Sunday unveiled a flying car that it says can also drive on roads. The company says it plans to begin production in 2024. The car has yet to go on sale. In addition, HT Aero said the final design may change.

According to the company, the HT Aero car will have a lightweight design and folding fenders. This will allow the car to drive on roads and then fly when the vertical take-off propeller wings are unfolded. The car will be equipped with a number of safety features, including parachutes, the company said.

HT Aero is backed by Xpeng and its founder He Xiaopeng. Last week, the company raised $500 million from a number of outside investors, including well-known venture capital firms. The new HT Aero ground and air vehicle was unveiled at Xpeng's Tech Day, where the company also unveiled the latest version of its advanced driver assistance system called Xpilot 4.0.

Source: cnbc

Cover: Xpeng