Chinese electric vehicle (EV) manufacturer XPeng Inc. (NYSE:XPEV) has successfully launched its flying car, the X2, in Beijing. The demonstration took place at the China Langfang International Economic and Trade Fair, marking a crucial step towards the commercialization of the innovative vehicle.
What Happened: The X2’s maiden flight coincided with the commencement of the China Langfang International Economic and Trade Fair, which will run until Thursday, the South China Morning Post reported.
The development comes amid the Chinese government’s increasing focus on the low-altitude economy, with the sector’s market projected to surpass 1 trillion yuan (approx. $138 billion) by 2026.
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XPeng’s flying car was unveiled at the fair, which also saw the participation of 26 provincial governments, each presenting their plans for the low-altitude economy.
The Beijing municipality released a blueprint in March for its low-altitude sector, outlining the establishment of three major air routes connecting neighboring areas by 2027.
Why It Matters: XPeng’s foray into the flying car market is part of its broader strategy to lead the future of mobility.
In June, the company’s affiliate, XPENG AEROHT, teamed up with Autoliv China to develop safety solutions for flying cars. This collaboration is aimed at pioneering safety solutions for future mobility, aligning with the Chinese government’s plans to establish a robust low-altitude economy.
XPeng’s CEO, Xiaopeng He, has been vocal about the role of AI and autonomous driving in shaping the future of the EV industry. He welcomed Tesla’s FSD entry into China in May, highlighting the potential for large AI models to drive the era of “Smart EVs.”
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: XPeng
