Cars EV maker Xpeng, its CEO spend in air taxi...

EV maker Xpeng, its CEO spend in air taxi startup – Reuters

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FILE Image: A banner announcing the Chinese auto company XPeng Inc. is viewed on the outside the house of the New York Stock Exchange (NYSE) ahead of the firm’s IPO trading underneath the inventory image “XPEV” in New York, U.S., August 27, 2020. REUTERS/Mike Segar/File Photograph

BEIJING (Reuters) – Chinese electrical car (EV) maker Xpeng Inc mentioned on Saturday that alongside with its CEO, He Xiaopeng, it has invested in air taxi startup Xpeng Heitech, as the global car industry explores long term mobility.

Air taxis are vertical acquire-off and landing (VTOL) plane that use electric motors as a substitute of jet engines. Designed to stay away from the need for long runways, they have rotating wings and, in some situations, rotors in put of propellers.

Xpeng Heitech is developing electrical and vertical takeoff air taxis with a focus on decreased altitudes of five to 25 metres. Automakers which includes Toyota Motor, Geely [GEELY.UL], Daimler AG and Typical Motors are eyeing the nascent industry.

Xpeng, which outlined in New York final thirty day period, did not disclose monetary details of the investment but additional it will not effects its main organization.

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