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XPeng’s urban air mobility (UAM) company AeroHT has demonstrated huge progress for eVTOL (electric vertical takeoff and landing) vehicles by showcasing its fifth-generation X2 ‘flying car’ publicly taking off, flying, and successfully landing during a demonstration in Dubai. Additionally, the company offered a progress update for its sixth-generation flying car, which is an actual car with wheels that drives and can take off and fly. Check it out.

AeroHT, fka XPeng Huitian, is a majority-owned entity of XPeng Inc. and its founder He Xiaopeng. Since its inception in 2013, AeroHT has conducted over 15,000 safely manned flights with the goal of combining automotive and aerospace technologies to develop safe, domestic electric flying vehicles at scale. These days, it’s well on its way.

Previous eVTOL prototypes include the T1 in 2019, followed by the X1 in 2020. The X2 is the company’s fifth-generation “flying car.” Despite its lack of wheels, AeroHT refers to the X2 as a flying car because it shares much of the same design DNA as the P7 sedan from XPeng Motors.

In the past, XPeng AeroHT has shared aerial footage of the X2 testing in extreme environments and high altitudes, but only in China. As it works toward delivering its sixth-generation model – an actual flying car unveiled last October – XPeng AeroHT has publicly shown off the capabilities of its fifth-generation flying car in Dubai.

For the first time, we get to see uncut footage of the eVTOL taking off, flying, and landing. That video is below, but to kick things off, check out this edited footage of the X2 flying car on display at Skydive Dubai outside of Gitex Global 2022:

X2 flies in Dubai ahead of details for AeroHT’s next flying car

Following the live demonstration in Dubai, XPeng AeroHT shared details of the event, the company’s progress, and its future in a detailed press release. This initial public flight was attended by over 150 people and was supported by the Dubai International Chamber of Commerce, which was deeply involved in the entire process, providing consulting to XPeng AeroHT.

The X2 flying car is on display this week at Gitex Global – one of the world’s largest tech shows taking place at the Dubai World Trade Center. When moved off-site to Skydive Dubai, the XPeng X2 successfully completed specific operations risk assessments outlined with the DCAA, receiving permission to make its first public flight in Dubai – its first outside of China. XPeng’s vice chairman and president Brian Gu spoke to the achievement overseas:

XPeng X2’s public display in Dubai represents a significant milestone for XPeng AeroHT and the international achievement of flying cars. Dubai is a world-renowned ‘City of Innovation’, which is the reason we decided to hold the X2 first public flight event here. Today’s flight is a major step in XPeng’s exploration of future mobility.

Part of the “exploration of future mobility” Gu is speaking to is XPeng’s sixth-generation eVTOL – a true ‘flying car’ in a more traditional sense given that it can actually drive too. It was first unveiled during the company’s 1024 Tech Day last fall.

flying car Dubai
XPeng AeroHT’s sixth-generation flying car

At the time, we learned that this latest flying car would be the first to come equipped with road capabilities, offering a lightweight design and foldable rotor mechanism for quick transitions between driving and flying. Additionally, XPeng stated the vehicle will arrive sometime in 2024 and should cost below RMB 1,000,000 (or approximately $156,600).

From Dubai, XPeng AeroHT is teasing new details of this flying car, stating it will reveal “the crucial achievement of R&D progress” as it pertains to the configuration, exterior design, and air driving method. Per XPeng AeroHT:

Equipped with both manual and automatic flight driving modes, this next-generation electric flying car, which is able to drive in the air and on roads, represents a true transformation from two-dimensional to three-dimensional mobility. As well as meeting daily travel demands, it can trigger the folding deformation system to achieve vertical take-off and landing for a low-altitude manned flight.

Those details will be made public during this year’s 1024 Tech day on October 24. More to come later this month. For now, we will have to settle for uncut footage of XPeng’s fifth-generation flying car (without wheels) operating in Dubai. Enjoy.

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Crude prices jump as U.S. imposes sweeping sanctions against Russia oil industry

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Crude prices jump as U.S. imposes sweeping sanctions against Russia oil industry

A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. 

Mario Tama | Getty Images

Oil prices jumped on Friday as the U.S. Treasury Department announced sweeping sanctions against Russia’s oil industry.

Brent gained $1.92, or 2.5%, to $78.84 per barrel by 11:12 a.m. ET, while U.S. crude oil advanced $1.89, or 2.56%, to $75.81 per barrel. Brent broke $80 per barrel for the first time since October earlier in day, hitting a session high of $80.75.

The sanctions target Russian oil companies Gazprom Neft and Surgutneftegas and their subsidiaries, more than 180 tankers, and more than a dozen Russian energy officials and executives. The sanctioned executives include Gazprom Neft CEO Aleksandr Valeryevich Dyukov.

The sanctioned vessels are mostly oil tankers that are part of Russia’s “shadow fleet” that has dodged existing sanctions on the country’s energy exports, according to the Treasury Department.

“The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine,” Treasury Secretary Janet Yellen said in a statement.

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Brent crude futures, 1 year

“With today’s actions, we are ratcheting up the sanctions risk associated with Russia’s oil trade, including shipping and financial facilitation in support of Russia’s oil exports,” Yellen said.

The perception in the oil market is Indian and Chinese refiners that have imported Russian oil will have to scramble for barrels from the Middle East, said Bob Yawger, executive director of energy futures at Mizuho Securities, in a note to clients Friday.

The Biden administration has sought to ratchet up pressure on Russia and dispense aid to Ukraine before President-elect Donald Trump takes office.

“The Biden administration opted for more robust energy sanctions, which caught the oil market especially complacent about sanctions risks,” said Bob McNally, president of Rapidan Energy Group.

“Therefore, we expect today’s material risk premium in Brent to stick pending signals from the Trump team as to whether they will continue these sanctions,” McNally said.

Don’t miss these energy insights from CNBC PRO:

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This long duration compressed air energy storage project just got a $1.76B DOE loan

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This long duration compressed air energy storage project just got a .76B DOE loan

Hydrostor’s GEM A-CAES has received a conditional loan guarantee of up to $1.76 billion from the US Department of Energy (DOE) to build the Willow Rock Energy Storage Center, a cutting-edge compressed air energy storage (CAES) system, in Eastern Kern County, California.

If everything goes as planned, Willow Rock will bring 500 megawatts (MW) and 4,000 megawatt-hours (MWh) of long-duration energy storage (LDES) to the southern California power grid.

This system will lower energy costs, improve grid reliability during peak demand, and expand the rollout of renewable energy into the grid. Here’s how it works and why it’s unique.

How compressed air energy storage works

CAES technology is all about storing energy for later use, especially when the sun isn’t shining or the wind isn’t blowing. Here’s how it works:

  1. Storing energy: The system takes surplus energy (often from renewable sources like solar or wind) and uses it to compress air, which is stored in underground caverns.
  2. Releasing energy: When the grid needs power, the compressed air is released, passing through a turbine to generate electricity. Willow Rock will be able to dispatch stored energy at full power for over eight-hour periods.

Unlike conventional batteries, CAES can scale up based on the size of the storage cavern and doesn’t rely on scarce critical materials. It’s durable, too –systems like Willow Rock are designed to last over 50 years.

Why advanced CAES is different

Traditional CAES systems face two big challenges: wasted heat and inconsistent power output. Willow Rock’s advanced compressed air energy storage system (A-CAES) technology solves these problems:

  • Thermal energy capture: Conventional CAES loses around 50% of energy during the air compression process. Willow Rock pairs a proprietary thermal storage system with this process, so it captures, stores, and reuses heat from the compression cycle.
  • Constant Pressure: Traditional systems lose efficiency as underground air pressure drops. Willow Rock maintains consistent pressure by using water from an above-ground reservoir. As a bonus, the facility will be a net producer of fresh water, as water condensed during the compression process will be captured and reused.

This innovative design means A-CAES systems can be installed in a greater variety of underground conditions – an estimated 80% of US geology could support similar systems, opening the door for wide deployment.

Willow Rock will create up to 700 construction jobs at its peak, and 40 full-time operations roles will follow. These positions require skills similar to those used in the oil and gas industry, making it a natural fit for Kern County, a region with roots in fossil fuel production.

GEM A-CAES is a subsidiary of Hydrostor USA Holdings, a subsidiary of Hydrostor of Canada.

Read more: The world’s highest solar + storage project is online in Tibet


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BYD launches its ultra-compact ATTO 2 SUV in UK and Europe with Blade Batteries

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BYD launches its ultra-compact ATTO 2 SUV in UK and Europe with Blade Batteries

Chinese EV automaker Build Your Dreams (BYD) has unveiled its ATTO 2 compact SUV to the European public. The launch, which took place at the Brussels Motor Show, kicks off BYD’s next EV entry into European and UK markets. The BYD ATTO 2 is smaller and more affordable than its SUV siblings, with a decent range to boot, perfect for European roads.

The ATTO 2 is a rebranded version of the Chinese EV automaker BYD’s Yuan Up – an ultra-affordable compact SUV that debuted in China in February 2024. BYD may not be bringing “Yuan” branded EVs over to new markets in Europe, but that lineup continues to grow each month.

BYD currently sells four all-electric models in the UK and seven in Europe, including the ATTO 3 SUV. Today, BYD debuted a rebranded version of the Yuan Up called the ATTO 2, which will go on sale to customers in the UK and Europe next month.

BYD unveils ATTO 2 in Brussels, sales begin in February

The Brussels Motor Show recently kicked off as the first major automotive expo in Europe in 2025, and BYD showed up with a new affordable BEV option to complement the ATTO 3. Per BYD executive vice president Stella Li:

We’re excited to start 2025 with another important model for our plans in Europe. The B-segment SUV class is incredibly popular here, and with the ATTO 2, we have an agile and versatile offering that will appeal to that large potential customer base. It takes all of BYD’s strengths in batteries, electric motors and Cell-to-Body construction and combines them in a compact package that brings new intelligent technologies to the urban SUV class.

The ATTO 2 is 4,310mm long, 1,830mm wide, and 1,675mm tall—145mm shorter and 45mm slimmer than its ATTO 3 sibling. Despite its compact size, the ATTO 2 offers up to 1,430 liters of cargo capacity with its rear seat down.

The ATTO 2 also sits atop BYD’s e-Platform 3.0, the first of the brand’s compact SUVs to utilize Cell-to-Body (CTB) construction, which integrates the battery completely into the vehicle chassis—this design results in optimized space and overall increased vehicle rigidity.

Speaking of batteries, the EU and UK customers who opt for an ATTO 2 can experience BYD’s proprietary Blade Batteries, which integrates LFP cells directly instead of fitting them into multiple modules. BYD says customers can choose between two battery sizes in their ATTO 2 order. At launch, a standard range edition will utilize a 45.1 kWh Blade Battery, delivering a (WLTP) 312 km (194 miles) range.

However, BYD said a larger-battery version of the ATTO 2 will arrive in the coming months and offer drivers greater range. The automaker is not yet sharing individual pricing for the ATTO 2 in the UK or Europe. Still, a representative for the company said the compact SUV is expected to land between the BYD Dolphin and ATTO 3 BEVs, which in the UK cost 26,140 GBP ($32,157) and 37,140 GBP ($45,689) respectively.

ATTO 2 sales are expected to begin in February.

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