China’s Flying Cars Take Off
XPeng, EHang, and other Chinese companies are determined to have cars flying in 2024. XPeng AeroHT, a subsidiary of the electric vehicle startup, plans to sell a dual-mode electric vertical takeoff and landing (eVTOL) vehicle that can drive on land and then detach a flying module for air travel. The aircraft is currently undergoing a certification review by the Civil Aviation Administration of China, which is required for commercial operation. The company plans to accept pre-orders in China in October, with mass production in 2025.
With an initial price tag of 1 million yuan ($138,000), the company hopes to increase the price to hundreds of thousands based on large-scale mass production. They expect to expand their efforts overseas, especially in the Middle East. They also plan to commercialize an integrated dual-use eVTOL aircraft that does not require separation. The flight propeller is folded and stored on the vehicle when driving.
EHang already obtained a type certification for its EH216-S model in October. The two-seater can fly for 25 minutes on a single charge and is now selling for 2.39 million yuan in China and $410,000 elsewhere. EHang will mass produce the aircraft and wants to partner with hotels and other businesses to commercialize tourism services.
China accounts for 50% of the world’s eVTOL models, the U.S. for 18%, and Germany for 8%.
Batteries for eVTOL vehicles require a high energy density of over 400 watt-hours per kilogram of weight. Chinese battery makers like CATL, the global leader in vehicle batteries, are developing products for eVTOL aircraft, giving Chinese manufacturers an advantage in procurement.
Shenzhen began measures in December to support companies in the field, boosting capital and expanding production. Guangzhou has also announced plans to set up an area for field tests for related businesses. There are still few takeoff and landing points, and traffic rules for individual drivers still need to be implemented.
The global eVTOL market is expected to reach $23.4 billion in 2030, about 19x the size last year. U.S. startup Joby Aviation has already applied for certification in the U.S., the U.K., and Japan.
