LayerCake
2021-10-19
Hi
Xpeng-backed flying car startup raises $500 mln
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It aims to deliver a flying car model, which will be able to drive on road, to customers in 2024.</p>\n<p>HT Aero did not disclose its valuation after the funding round.</p>\n<p>Companies from start-ups to global carmakers are racing to develop commercial flying \"robo-taxis\", hoping to cash in on a market <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> says could be worth $1.5 trillion by 2040.</p>\n<p>Other automakers that are developing flying cars in China include Geely's Terrafugia, which is building a factory in central city of Wuhan. Volkswagen AG is also studying the industry in China.</p>\n<p>Regulators in China, however, have yet to detail rules on flying vehicles. 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