- The latest funding round of nearly $200 million brings Aridge's total historical equity financing to about $1 billion.
- The fresh capital arrives as the Xpeng-backed company prepares for a potential Hong Kong IPO this year.
Aridge, the flying car unit of Xpeng, announced Friday that it has raised nearly $200 million in a new equity funding round, as it expects to begin mass production before the end of this year.
GL Ventures and HongShan Capital added to their previous investments from the Series A round, while Gaorong Ventures and Fortune Capital also participated in the latest financing.
The latest transaction brings Aridge's total historical equity financing to about $1 billion, making it the most heavily funded startup in Asia's crewed low-altitude flying sector, according to a statement.
The fresh capital injection comes as the company seeks to tap public markets, with Bloomberg reporting in January that it had confidentially filed for an initial public offering in Hong Kong.
The company could sell shares as soon as this year and has selected JPMorgan Chase and Morgan Stanley to prepare for the listing of the flying car business, Bloomberg reported on January 12.
Aridge's operations are advancing steadily. Its mass production plant in Guangzhou was completed in September 2025 and produced its first flying car the following November.
The facility, spanning about 120,000 square meters, is the world's first plant to use a modern assembly line for aircraft production. At full capacity, it can roll out one aircraft every 30 minutes.
The batch trial production and multi-aircraft test flights for its Land Aircraft Carrier were completed on March 5, providing capacity assurance for the product's mass production and delivery targets in 2026.
The complete Land Aircraft Carrier system includes a two-seater flying car and a mothership vehicle capable of recharging the aircraft.
The vehicle utilizes an 800V silicon carbide high-voltage extended-range platform, boasting a range of over 1,000 kilometers, and can charge the aircraft while driving or parked.
The product's price is expected not to exceed 2 million yuan ($290,000), company management previously said. Aridge kicked off its marketing efforts earlier this year, unveiling three exterior colors.
The company rebranded from Xpeng Aeroht to Aridge in October 2025, and last year appointed former Deutsche Bank executive Du Chao as its first chief financial officer to accelerate its IPO preparations.
($1 = 6.8966 yuan)
