China’s ‘Flying Cars’ Expected to Launch by Late 2024, Targeting a $1.5 Trillion Global Market
China is gearing up to make a significant impact on the commercial flying car market, leveraging its expertise in electric vehicle (EV) technology. With some Chinese companies aiming to introduce flying cars by the end of 2024, the country’s focus on electric vertical take-off and landing (eVTOL) aircraft highlights its ambitious plans for transportation innovation.
Image Source: cnbc.com
eVTOL aircraft, which combine vertical take-off capabilities with fixed-wing flight for efficient travel, are expected to play a crucial role in various sectors, including airlines, logistics, emergency services, agriculture, tourism, and security.
Analysts project that the eVTOL market could reach an astonishing $1.5 trillion annually by 2040. China’s proactive approach in this domain is evident, as the country currently dominates the global eVTOL landscape, accounting for 50% of the world’s total eVTOL models.
This dominance is fueled by China’s proficiency in EV-related technologies, particularly battery systems. With leading manufacturers like CATL at the forefront of developing batteries suitable for eVTOL aircraft, Chinese companies have a competitive advantage in technology adaptation and procurement.
Multiple Chinese firms, including XPeng and EHang, are poised to commercialize flying cars in the near future. XPeng AeroHT, a subsidiary of Xpeng Motors, plans to introduce a dual-mode eVTOL vehicle capable of operating both on land and in the air. The Civil Aviation Administration of China has initiated the certification process for this aircraft, paving the way for commercial operations.
Similarly, EHang has received certification for its EH216-S model and is exploring partnerships with hotels and tourism businesses in regions like the Middle East and Southeast Asia.
With pre-orders for flying cars expected to open in China later this year and mass production on the horizon, Chinese companies are poised to make a significant impact on the global flying car market, with ambitions for expansion into international markets.
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