HT Aero Raises US$500+ Million in Series A Financing
Summary
He Xiaopeng, Chairman and CEO of XPeng Inc. “ HT Aero’s deeply roots in proven technology and sophisticated R&D capabilities will help it jumpstart the industrialization of flying cars,” said Mr. Guangfu Cui, Partner of IDG Capital. The rapid technological evolution of batteries, autonomous driving and materials science provide the synergies needed to create a new paradigm for flying cars.” “ HT Aero is a visionary initiative to transform the transportation sector through a new form of mobility,” said Mr. Richard Liu, Founding Partner of 5Y Capital. “ We share HT’s vision, and its founders’ belief that investing in technological innovations that unlock greater social and environmental values is a critical path to achieving competitiveness at global scale.” “ The Series A financing will provide us with sufficient resources to advance our research and development, acquire top-tier talent, and to continue to gain airworthiness provision and certification,” said Mr. Deli Zhao, Founder and President of HT Aero. Unlike many eVTOL (electric vertical take-off and landing) companies, which target services for the business sector, HT Aero is focused on developing three-dimensional, smart and sustainable urban air mobility (UAM) solutions for individual consumers. HT Aero aspires to be the leading pioneer of urban air mobility (UAM) and is dedicated to producing safe and intelligent electric flying vehicles which combine automotive and aerospace technologies to realize domestic air-travel usage at scale.