TLDR
- XPeng (XPEV) has hired JPMorgan Chase and Morgan Stanley to prepare an IPO for its flying car unit Aridge in Hong Kong
- The company filed confidentially for the listing, which could happen as soon as 2026
- Aridge, formerly XPeng Aeroht, received $250M in Series B financing in July 2025
- The unit operates a 120,000-square-meter factory in Guangzhou with deliveries set to start this year
- XPeng unveiled the A868 flying car in November 2025, featuring hybrid powertrain and 500km+ range
XPeng has tapped two major banks to handle the public listing of its flying car division. JPMorgan Chase and Morgan Stanley will work on the IPO of Aridge in Hong Kong.
Flying cars are here.
China's Xpeng recently got a permit to fly its EV, intelligent drone "Aeroht X2".
It's electric, and best of all can be operated manually OR in an autonomous mode.
Just tell it where you want to go, and it will take you there. pic.twitter.com/qFENpuX940
— Rowan Cheung (@rowancheung) August 28, 2023
The Chinese EV maker filed confidentially for the share sale. Sources told Bloomberg the listing could happen as soon as this year. The IPO plan remains in discussion and could change.
Aridge started life as XPeng Aeroht before being renamed in October 2025. The new name reflects the company’s vision to lead in low-altitude flight product innovation. XPeng and its chairman He Xiaopeng both hold stakes in the unit.
Banks received invitations last year to pitch for roles on a potential IPO. At the time, Hong Kong and the U.S. were both under consideration as listing venues.
Production Facility Ready for Launch
The flying car unit operates a 120,000-square-meter factory in Guangzhou, China. The facility supports modern assembly-line production methods. Deliveries are scheduled to begin this year.
Aridge secured $250 million in Series B financing last July. This marked the unit’s most recent funding round. The capital will help scale operations as production ramps up.
XPeng showcased the A868 at its AI Day event in November 2025. The new flying car features a hybrid powertrain and can travel over 500 kilometers on a single charge. The vehicle targets multi-passenger long-distance travel applications.
XPeng’s Broader Strategy
The parent company is expanding its extended-range hybrid vehicle lineup. XPeng is also investing heavily in autonomous driving software development. The strategy involves using profits from traditional EV sales to fund advanced technology projects like Aridge.
Wall Street maintains a Moderate Buy rating on XPeng stock. Four analysts recommend buying, one suggests holding, and one rates it a sell. The average price target sits at $29.67, implying 48.2% upside from current levels.
XPeng shares have climbed 65% over the past year. The stock trades at around $20.02 per share.
The confidential filing allows XPeng to keep financial details private until closer to the listing date. Hong Kong requires companies to publicly file paperwork closer to their actual IPO timing.
Sources say the timeline and structure could still shift based on market conditions. The flying car sector remains nascent with limited competition in the public markets.
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