Aridge, the flying car division of Xpeng, has raised nearly $200 million in a new equity funding round, as it moves closer to mass production of its aerial mobility vehicles.
The latest round saw continued backing from GL Ventures and HongShan Capital, alongside new participation from Gaorong Ventures and Fortune Capital. The transaction brings Aridge’s total historical equity financing to approximately $1 billion, making it one of the most heavily funded startups in Asia’s crewed low-altitude aviation sector, according to a company statement.
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The fresh capital comes as the company prepares for a potential initial public offering. Bloomberg reported in January that Aridge had confidentially filed for a Hong Kong listing and could sell shares as early as this year, with JPMorgan Chase and Morgan Stanley appointed to support the process.
Aridge’s manufacturing operations are progressing, with its mass production facility in Guangzhou completed in September 2025 and producing its first flying car in November. The plant spans approximately 120,000 square meters and is designed to produce one aircraft every 30 minutes at full capacity, using what the company describes as a modern assembly-line approach for aircraft production.
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The company said it completed batch trial production and multi-aircraft test flights of its “Land Aircraft Carrier” system on March 5, supporting its goal of achieving mass production and deliveries in 2026. The system consists of a two-seater flying car and a larger support vehicle capable of recharging the aircraft.
The platform uses an 800V silicon carbide high-voltage extended-range system, offering a range of more than 1,000 kilometers and enabling the mothership vehicle to recharge the aircraft while in motion or stationary. Management has previously indicated that the product will be priced below 2 million yuan ($290,000).
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Aridge, which rebranded from Xpeng Aeroht in October 2025, has also stepped up preparations for its public listing, including the appointment of former Deutsche Bank executive Du Chao as chief financial officer.