XPeng Inc. (NYSE:XPEV) shares are trading lower on Friday.
Xpeng Aeroht, the flying car division of Xpeng, reported receiving over 1,000 pre-orders for its modular flying car, despite official pre-sales not having started yet, reported CnEV Post.
The company revealed this milestone today, crediting the early orders to pioneering customers. According to the report, the company has now garnered over 3,000 intended orders for the product.
On September 4, Xpeng Aeroht conducted a private meeting with key partners and held an advance booking signing ceremony for the product on the same day, CnEV Post added.
The day before the communication session, Xpeng Aeroht showcased its modular flying car, known as a land carrier, for the first time at an event.
Also Read: Future Of Travel: XPENG AEROHT Teams Up With Autoliv For Flying Car Safety Tech
The company plans to start mass production and deliveries of the modular flying car in 2026, with a price capped at RMB 2 million ($280,000).
Xpeng Aeroht will conduct the car's first public manned flight at the Zhuhai Airshow in November and will also display it at the Guangzhou auto show later in the month.
Pre-sales for the product are set to begin in late 2024, with mass production and deliveries scheduled for 2026, according to founder and president Zhao Deli.
This new production timeline is a delay from the earlier plan, which had pre-orders starting in the fourth quarter of this year and mass production and delivery set for the fourth quarter of 2025.
According to Benzinga Pro, XPEV stock has lost over 54% in the past year. Investors can gain exposure to the stock via SPDR S&P Kensho Smart Mobility ETF (NYSE:HAIL) and Invesco WilderHill Clean Energy ETF (NYSE:PBW).
Price Action: XPEV shares are trading lower by 2.38% to $8.62 at last check Friday.
Photo by Koshiro K on Shutterstock
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