Asia Tech Wire (Aug 5) -- Xpeng AeroHT, the flying car unit of Chinese electric car maker Xpeng Inc., announced on Monday that it has secured $150 million in Series B1 financing, while launching a Series B2 round.

AeroHT said the round will ensure the smooth realization of its flying car development, scale mass production and commercialization process.

The Chinese startup will soon build the world's first mass-production flying car factory in Guangzhou, utilizing a modern assembly line, initially for the production of the flying body part of the split-type flying car "Land Aircraft Carrier".

Meanwhile, AeroHT said it plans to launch pre-sales of the Land Aircraft Carrier in the fourth quarter of this year.