The Chinese eVTOL startup Huitian Aerotech. annouced that they successfully completed over $500 million USD series A financing with over $ 1billions valuation led by IDG, Xpeng Motor, 5Y Capital and joined by Sequioa, GGV, GL Ventures, Eastern Bell Capital & YF Capital. This is the largest investment in eVTOL and electric aviation in general in Asia so as of today.

Huitian was acquired by the Chinese electric car company Xpeng Motors and the founder of Xpeng Motors himself Mr.He Xiaopeng in 2020. Xpeng Motors is one of the largest and one of the most promising electric car companies in China. Xpeng Motors is listed at NASDAQ and has a market cap of about 35 billions USD.

Huitian have been developing eVTOL for several years and have test flown several models of single-seat and two-seat eVTOL. Their latest eVTOL product is X2 two-seat as shown here