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AeroHT, XPeng’s electric air mobility arm, has shared an update on the progress of its Land Aircraft Carrier. AeroHT’s modular flying car is scheduled for public crewed test flights this fall ahead of mass production and customer deliveries in 2026 and will cost at most $280,000.

AeroHT is an affiliate of XPeng Inc., which is majority owned by the company and its founder, He Xiaopeng. Since beginning operations over a decade ago, AeroHT has specialized in developing electric vertical takeoff and landing (eVTOL) vehicles.

AeroHT publicly showcased early flight success on the propellers of its X2 “flying car,” an eVTOL that shares design DNA with XPeng brand EVs. However, during XPeng’s annual 1024 event last fall, AeroHT unveiled two new flying car designs – an actual flying car called the X3 that can drive, park, and take off on its own, as well as a modular EV that transports a separate eVTOL in its rear.

The latter, named the Land Aircraft Carrier, was initially scheduled to enter scaled production in 2025 ahead of customer deliveries in China, allowing customers to simultaneously navigate the roads and the skies.

This past March, the EV/eVTOL combo vessel achieved airworthiness certification by the Civil Aviation Administration of Central and Southern China (CAAC), moving it closer to scaled production. Most recently, AeroHT’s founder and president shared an update about the flying car, which will perform human-crewed flights in front of the public this November.

AeroHT flying car
Source: XPeng AeroHT

XPeng AeroHT’s share updated flying car timeline

During a live stream event held in China earlier today, XPeng AeroHT founder and President Zhao Deli publicly debuted the Land Aircraft Carrier to the public for the first time and shared an update on the eVTOL’s progress and plans.

As initially promised, AeroHT will begin accepting pre-orders for the modular flying car before the end of 2024. However, mass production has been pushed a bit from Q4 2025 to sometime in 2026.

We also have a better idea of the cost of AeroHT’s potentially groundbreaking flying car combo. Per Deli, the Land Aircraft Carrier will cost no more than RMB 2 million ($280,740).

Part of the reason for the production delay appears to be the awaited construction of Xpeng AeroHT’s new factory in Guangzhou, China, which will begin by the end of this month or early October at the latest and is expected to deliver the first flying car prototype off its production line by July 31, 2025.

When complete, that facility is anticipated to produce over 10,000 eVTOLs per year and serve as a vital hub for AeroHT, which aims to deliver more eVTOLs around the globe than any other company in the space.

Before mass production of the Land Aircraft Carrier begins, Deli said AeroHT is planning its first crewed demonstration of the modular flying car for the public in China at the Zhuhai Airshow, which will take place November 12-17, 2024. The vehicle will also be displayed at the Guangzhou Auto Show later that month.

AeroHT is gaining momentum in 2024. In August, it completed a successful Series B1 funding round that garnered $150 million. This was quickly followed by a B2 round to raise even more funding for plant construction and mass production.

We will circle back in November following those flying car test flights and hopefully have some video footage to share.

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Lexus cuts RZ electric SUV prices by over $10,000 with its new entry-level 2025 model

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Lexus cuts RZ electric SUV prices by over ,000 with its new entry-level 2025 model

The all-electric luxury electric SUV is getting significantly cheaper. Lexus launched a new entry-level 2025 RZ trim with starting prices over $10,000 less than last year’s model. And you get just as much driving range.

2025 Lexus RZ electric SUV prices and driving range

Lexus launched its first dedicated EV last year, the RZ electric SUV. Starting at $55,175, the 2024 Lexus RZ 300e has a range of up to 266 miles.

The 2024 RZ 450e AWD, equipped with its dual-moto DIRECT4 system, has a range of up to 196 miles. Prices start at just under $60,000. Both models are offered in Premium or Luxury packages.

Lexus is drastically lowering prices for the 2025 model year. The 2025 Lexus RZ starts at $43,975, and that includes the $1,175 delivery fee.

At under $44,000, prices for the 2025 RZ start at over $10,000 less than last year’s model. The lower price tag comes as Lexus added a new entry-level RZ 300e FWD trim to the lineup.

The 2025 Lexus RZ 300e FWD still has an EPA-estimated 266-mile range (18″ wheels), so despite the lower price, it’s no loss from last year’s model. It’s powered by a 72.8 kWh battery pack from global leader CATL.

Lexus-RZ-prices-2025
2025 Lexus RZ 450e (Source: Lexus)

Lexus modified the subframe for the FWD model, replacing the rear eAxle from the AWD model. The result is a quieter, smoother drive.

Powered by a 71.4 kWh battery, the 2025 RZ 450e AWD has an EPA-estimated driving range of up to 220 miles (18″ wheels).

2025 Lexus RZ model Starting Price* EPA-estimated Driving Range
RZ 450e AWD $48,675 220 miles
RZ 450e Premium AWD w/ 18″ Wheel $52,875 220 miles
RZ 450e Premium AWD w/ 20″ Wheel $54,115 196 miles
RZ 450e Luxury AWD $58,605 220 miles
RZ 300e FWD $43,975 266 miles
RZ 300e Premium FWD w/ 18″ Wheel $48,175 266 miles
RZ 300e Premium FWD w/ 20″ Wheel $49,415 224 miles
RZ 300e Luxury FWD $53,905 266 miles
2025 Lexus RZ electric SUV prices and range (*Includes Delivery, Processing and Handling fee of $1,175)

The 2025 Lexus RZ is available in three grades. These include the new entry-level model, in addition to the current Premium and Luxury trims.

Inside, the electric SUV has a minimalistic feel with a standard 14″ infotainment with Apple CarPlay and Android Auto support at the center.

You can also opt for the available 10″ head-up display (HUD), Mark Levinson Surround Sound System, and a host of safety features.

The flat platform provides a spacious interior with 37.52″ of rear legroom, nearly as much as the second row of a Ford Explorer (39″).

With the 2025 model arriving at dealerships soon, Lexus is offering closeout prices on 2024 models with up to $18,500 in lease cash discounts. You can use our link to find the best offers on the Lexus RZ at a dealer near you today.

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Why Jim Cramer is nervous about Best Buy, plus a bright spot in this down market

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Why Jim Cramer is nervous about Best Buy, plus a bright spot in this down market

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‘Political malpractice’ if Trump undoes climate-geared Biden projects, outgoing U.S. energy secretary says

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'Political malpractice' if Trump undoes climate-geared Biden projects, outgoing U.S. energy secretary says

U.S. Secretary of Energy Jennifer Granholm speaks to the media on day five at the UNFCCC COP29 Climate Conference on November 15, 2024 in Baku, Azerbaijan. 

Sean Gallup | Getty Images News | Getty Images

A potential decision by Donald Trump to walk back the Biden administration’s climate-geared projects would impact jobs in areas governed by the President-elect’s own party, outgoing U.S. Energy Secretary Jennifer Granholm told CNBC, urging consistency in Washington’s green transition policies.

Referencing the White House’s withdrawal from the Paris Agreement — a 2015 treaty in which nearly 200 governments made non-binding pledges to reduce greenhouse emissions — during Trump’s first mandate, Granholm said the U.S. pressed ahead with projects linked to the green transition that members of Congress wanted to undertake in their districts.

“We are now building all of these projects. We’re building batteries for electric vehicles, we’re building the vehicles, we’re building the offshore wind turbines, we’re building the solar panels. And all of those are factories. And those factories are in districts of members of Congress,” she told CNBC’s Dan Murphy on Friday at the COP29 U.N. climate conference held in Baku, Azerbaijan.

'Political malpractice' if Trump undoes Biden climate commitments: Energy Secretary Granholm

She estimated that 80% of the funding from U.S. President Joe Biden’s legacy bills — the Inflation Reduction Act and the Bipartisan Infrastructure Law — went to U.S. districts represented by Republican leadership.

“It would be political malpractice to undo those opportunities when people are just now getting hired,” she said, stressing benefits to the manufacturing sector and noting that the business community of the world’s largest economy and oil producer now wants a clear course from Washington on its climate policy.

“This isn’t about in [the Paris Agreement], out, shifting back and forth. Let’s have a consistent practice,” she said.

When asked for a response on Granholm’s comments, Karoline Leavitt, a spokeswoman for Trump’s transition team, said the president-elect will “deliver” on the promises he made on the campaign trail.

COP29 discussions are focusing on international community reaction to U.S. election, S&P Global says

International focus has now shifted on the shape of the U.S.’ future role in global climate policy, as Trump prepares to take the helm at the White House for a second mandate in January, following a sweeping victory against Democrat candidate Kamala Harris. Trump — who has yet to announce his own pick to lead the U.S. Department of Energy — put hydrocarbons at the front and center of his campaigning agenda, pledging to “end Biden’s delays in federal drilling permits and leases that are needed to unleash American oil and natural gas production.”

The U.S. Energy Information Administration (EIA) in March said that the country already “produced more crude oil than any nation at any time” for the past six years to 2023, averaging a crude oil and condensate production of 12.9 million barrels per day that year — breaking the previous U.S. and global record of 12.3 million barrels per day recorded in 2019, during Trump’s first mandate.

Yet Granholm on Friday stressed that the clean transition is also “unleashed” and will take place regardless of who is leading the White House — and that ignoring climate change risks sacrificing Washington’s position as a frontrunner in the blooming decarbonization industry.

“Why would we take a second, a backseat to an economic competitor like China?” she asked. “They have an economic strategy, they want to be number one. So if we get out of the game, we’re just going to cede that territory all over again. It’s bad strategy for the United States and for workers and for communities across the country.”

As the world braces for the possibility of a second U.S. exit from the Paris Agreement, some climate activists note that the green transition has now gained a different global momentum than during Trump’s first turn at the White House:

“There is no denying that another Trump presidency will stall national efforts to tackle the climate crisis and protect the environment, but most U.S. state, local, and private sector leaders are committed to charging ahead,” Dan Lashof, U.S. director of the World Resources Institute, said in a Nov. 6 statement.

“Donald Trump heading back to the White House won’t be a death knell to the clean energy transition that has rapidly picked up pace these last four years.”

'We have to be rational,' Saudi Arabia's climate envoy says at COP29

Granholm also identified potential support in Trump’s current entourage, which this week welcomed business tycoon Elon Musk as the president-elect’s choice to head a new Department of Government Efficiency, alongside conservative activist Vivek Ramaswamy:

“His right-hand man, Elon Musk,  is somebody who has been strongly in favor of products that … address climate change. Obviously, he’s the founder of Tesla,” Granholm pointed out.

Musk’s environmental stance has come under question over the years, shifting from telling Rolling Stone magazine that “climate change is the biggest threat that humanity faces this century, except for AI” and backing carbon taxes to holding that the world needs hydrocarbon supplies as a bridge to renewable energy.

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