Asian Tech Press (OCT 25) -- Chinese EV maker XPeng Inc. announced its sixth generation of HT Aero flying car at the third 1024 Technology Day.

The flying car will have two different driving modes, namely driving mode and flying mode, which means it can operate in both scenarios.

XPeng aims to have the vehicle in mass production by 2024 and to keep the selling price under 1 million yuan (US$157,000).

XPeng Motors, commonly known as XPeng, is a Chinese electric vehicle manufacturer. Headquartered in Guangzhou and offices in California, the company is publicly traded on the New York Stock Exchange under the ticker symbol "XPEV".

HT Aero, XPeng's affiliate, is an urban air mobility (UAM) company dedicated to producing safe and intelligent electric flying vehicles. It had announced a $500 million Series A raise last week.