Aridge, the flying car subsidiary of Chinese technology firm Xpeng, has raised nearly USD 200 million in a new round of equity financing.
Disclosed on March 13, the round drew participation from investors including Hillhouse Capital, HongShan, Gaorong Ventures, and Fortune Capital. Hillhouse Capital and HongShan also participated in Aridge’s earlier Series A round.
In a statement shared with KrASIA, Aridge said its cumulative equity funding has reached nearly USD 1 billion to date, making it the most funded company in Asia’s manned eVTOL (electric vertical takeoff and landing) industry.
The new capital will be used to support the commercialization of Aridge’s first product, the “Land Aircraft Carrier.” The modular eVTOL vehicle features an air module that can detach from and reconnect to a six-wheeled ground module for storage, charging, and road travel.
Orders for the Land Aircraft Carrier have reportedly been building since the Civil Aviation Administration of China accepted the type certificate application for its flight body in March 2024, followed by acceptance of its production certification application for the airframe in May.
Production will be centered at a manufacturing facility in Guangzhou, with a reported annual capacity of up to 10,000 air modules. As of October 2025, the global backlog for the Land Aircraft Carrier was said to exceed 7,000 orders.
Aridge was previously known as Xpeng AeroHT and rebranded in October 2025, coinciding with a public manned test flight in Dubai, UAE. The company said the rebrand aligns with its broader globalization strategy, while founder Zhao Deli said the new name reflects its goal of “connecting sky and earth” and developing a low-altitude mobility ecosystem.
The company is considered one of China’s leading eVTOL players, alongside Nasdaq-listed EHang, known for developing one of the first autonomous passenger-carrying aerial vehicles, and Geely-backed Aerofugia, which is focused on building a tiltrotor passenger eVTOL aircraft with smart cabin features.
In addition to its Dubai test flight, Aridge has conducted public demonstrations in recent years to raise awareness of its technology, including a high-profile test run of the Land Aircraft Carrier in Shanghai’s Lujiazui district in December 2024.