Chinese carmakers race to build early advantage in flying car ventures after EV rivalry
Some of China's biggest carmakers, from the iconic
Hongqi or Red Flag to Geely Auto and Tesla rival Xpeng, are competing on a new front – flying cars – to build a first-mover advantage as sales of electric vehicles begin to saturate.
Front-runners like
AeroHT, an affiliate of Xpeng , are edging closer to commercialising their drone businesses amid Beijing's support for the so-called low-altitude mobility economy, spearheading innovations in the global air-travel industry.
AeroHT last week filed an application to the Civil Aviation Administration of China (CAAC) for a licence to build its first flying car, according to a statement. Ehang has obtained a licence to offer low-altitude air travel services to passengers.
Hongqi, a unit of the mainland's oldest carmaker FAW Group, Geely Auto and other players like GAC Group and Chery Automobile are dedicating a lot of resources to the research and development of flying cars or drones, offering urban air mobility to overcome traffic gridlock in urban cities.
'The flying cars will take some time before they generate profits, given the high production costs and small demand at present,' said Yin Ran, an angel investor in Shanghai. 'The leading carmakers are investing [in them] for the future because they design and manufacture fancy transport tools to display their technology advancements.'
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Flying taxis, airships and drones: the rise of China's low-altitude economy
Flying taxis, airships and drones: the rise of China's low-altitude economy
The low-altitude economy refers to businesses operating aerial vehicles below 1,000 metres. As part of the aviation industry's focus on aerial connectivity in and around cities, it has gained momentum since 2021 when Beijing introduced policies and regulations to support the sector.
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