XPeng AeroHT’s ‘modular flying car’ will enter mass production, pre-orders begin in Q4
During a press event held during CES in Las Vegas, XPeng’s electric aviation business arm AeroHT shared new details regarding two of its “flying cars.” In addition to live demonstrations of its eVTOL flying supercar, XPeng AeroHT shared that its modular “Land Aircraft Carrier” will enter mass production.
AeroHT is an eVTOL-focused entity of XPeng Inc., majority-owned by the company and its founder He Xiaopeng. Since 2013, AeroHT has conducted tens of thousands of safe flights en route to developing and implementing electric flying vehicles at scale.
Its mobility sibling, XPeng Motors, has delivered some impressive technology in its own right, but many would argue that AeroHT’s technology is even more exciting. During XPeng’s annual 1024 Tech Day event in 2022, AeroHT introduced its seventh generation flying car. Others have used that term loosely, but this prototype is a genuine EV that drives, deploys propellers, and can take off into the sky.
2023’s Tech Day brought the debut of two new “flying car” designs, including a revamped version of the flying supercar mentioned above. New to the AeroHT family was a 6×6 all-wheel drive EV that houses an eVTOL aircraft in its rear. That vehicle has come to be known as the “Land Aircraft Carrier,” and according to news from XPeng and AeroHT in Vegas today, will enter mass production in 2025.
XPeng AeroHT’s flying car carrier to begin pre-orders in Q4
During a press event held live at CES 2024 in Las Vegas, XPeng AeroHT shared significant updates on the progress of its “flying car” technology. First, the Land Aircraft Carrier in the featured image above has been slotted for scaled production in 2025.
Before then, however, the company will open pre-orders for the modular EV/ eVTOL combo beginning in Q4 of this year. Described by its makers as “not another mere concept,” AeroHT shared that the Land Aircraft Carrier has already completed all necessary tests during its R&D validation phase and has now begun the preparation stage for mass production.
While XPeng AeroHT states the final design of the “flying car” is still in development, it should feature the following specs if and when scaled production begins:
- Ground Module (BEV)
- Accommodates 4-5 passengers.
- Extended-range electric powertrain can recharge the eVTOL air module multiple times.
- Three-axle, six-wheel configuration enables 6×6 all-wheel drive and rear-wheel steering.
- Air Module (eVTOL)
- Fully-electric piloted aircraft capable of vertical takeoff/landing and low-altitude flights.
- Its electric propulsion system meets single-point failure safety requirements.
- The eVTOL supports manual and autonomous flight modes.
- A 270° panoramic two-person cockpit offers a wide field of view.
Despite pre-orders in the pipeline, XPeng AeroHT is not sharing precisely what its Land Aircraft Carrier “flying car” will cost. XPeng founder He Xiaopeng said the carrier would be priced in the RMB 1 million segment ($140,500). We will learn more concrete pricing once the company debuts its final design.
In addition, the scaled production of the eVTOL carrier, XPeng AeroHT, also wowed the CES crowd with its international debut and a live demonstration of its flying supercar. The EV transitioned into flight mode – deploying its rotor-equipped arms before completing a successful vertical takeoff and landing.
When XPeng AeroHT introduced the sixth generation of the flying car during 1024 Tech Day 2021, it was expected to arrive sometime in 2024 and cost less than RMB 1,000,000 (~$156,600). However, that no longer seems to be the targeted arrival as the electric aviation arm’s production focus appears set on the Land Aircraft Carrier, at least for now.
That isn’t to say we won’t see this genuine flying EV reach production someday, and given today’s live demo, it appears more feasible than ever. For now, however, our sights are set on Q4 2024, when Land Aircraft Carrier pre-orders begin.
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British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.
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British oil giant BP on Tuesday posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices.
The beleaguered oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $1.38 billion for the first three months of the year. That missed analyst expectations of $1.6 billion, according to an LSEG-compiled consensus.
BP’s net profit had hit $2.7 billion a year earlier and $1.2 billion in the final three months of 2024.
The results come as the energy major faces fresh pressure from activist investors less than two months after announcing a strategic reset.
Seeking to rebuild investor confidence, BP in February pledged to slash renewable spending and boost annual expenditure on its core business of oil and gas.
BP CEO Murray Auchincloss told CNBC’s “Squawk Box Europe” on Tuesday that the firm was “off to a great start” in delivering on its strategic reset.
“We had a great operational quarter. We had our highest upstream operating efficiency in history. Our refineries in the first quarter ran at the best they’ve run in 24 years. We had six exploration discoveries in a row, which is really unusual and we started out three major projects,” Auchincloss said.
For the first quarter, BP announced a dividend per ordinary share of 8 cents and a share buyback of $750 million.
Net debt rose to $26.97 billion in the January-March period, up from $22.99 billion at the end of the fourth quarter. BP had previously warned of lower reported upstream production and higher net debt in the first quarter, when compared to the final three months of last year.
Shares of BP fell 3.3% on Tuesday morning. The firm is down roughly 8% year-to-date.
Activist pressure
BP’s green strategy U-turn does not appear to have gone far enough for the likes of activist investor Elliott Management, which went public last week with a stake of more than 5% in the London-listed firm.
The disclosure makes the U.S. hedge fund BP’s second-largest shareholder after BlackRock, the world’s largest asset manager, according to LSEG data.
Elliott was first reported to have assumed a position in the oil and gas company back in February, driving a share price rally amid expectations that its involvement could pressure BP to shift gears back toward its oil and gas businesses.
BP’s Auchincloss declined to comment on interactions with investors when asked whether the firm was under pressure from the likes of Elliott to go beyond the plans announced in its February pivot.
Notably, BP suffered a shareholder rebellion at its annual general meeting earlier this month. Almost a quarter (24.3%) of investors voted against the re-election of outgoing Chair Helge Lund, a symbolic result that reflected a sense of deep frustration among the firm’s shareholders.
Mark van Baal, founder of Dutch activist investor Follow This, told CNBC last week that he hoped the shareholder revolt means Amanda Blanc, who is leading the process to find Lund’s successor, will look for a new chair who is “climate competent” and “will not respond to short-term activists so quickly.”
Lund is expected to step down from his role next year.
Takeover candidate
BP’s underperformance relative to industry peers such as Exxon Mobil, Chevron and Shell has thrust the energy major into the spotlight as a prime takeover candidate. Energy analysts have questioned, however, whether any of the likeliest suitors will rise to the occasion.
BP’s Auchincloss on Tuesday said that he wouldn’t speculate on whether the company is a takeover target, but confirmed the oil major had not asked for any sort of protection from the British government.
“What I will say is we’re a strong, independent company and we’ve got sector-leading growth. And if we can deliver the sector-leading growth, and the first quarter is a fantastic example of that, then I have no concerns. I think we’re going to do great,” Auchincloss said.
Murray Auchincloss, chief executive officer of BP, during the “CERAWeek by S&P Global” conference in Houston, Texas, on March 11, 2025.
Bloomberg | Bloomberg | Getty Images
Oil prices have fallen in recent months on demand fears. International benchmark Brent crude futures with June delivery traded at $65.19 per barrel on Tuesday morning, down more than 1% for the session. That’s lower from around $84 per barrel a year ago.
Asked whether weaker crude prices could put the some of the firm’s reset plans in jeopardy, Auchincloss said, “Not really. We have a balance of products that we think about that generate revenue for us. So, oil, natural gas and refined products as well.”
— CNBC’s Ruxandra Iordache contributed to this report.
Germany’s largest offshore wind farm under construction, EnBW’s He Dreiht, just hit a big milestone: The first enormous turbine is now up in the North Sea.
He Dreiht – which means “it spins” in Low German – is using Vestas’s massive 15 megawatt (MW) turbines, the first project in the world to install them. Just one spin of one of the rotors can generate enough electricity to power four households for an entire day.
When it’s finished, He Dreiht will have 64 mega turbines cranking out 960 megawatts (MW) of clean power – enough to supply around 1.1 million homes. And it’s being built without any government subsidies.
EnBW, one of Germany’s major energy companies, has been working in offshore wind for more than 15 years, but He Dreiht is their biggest project yet. “It will play a key role in helping us to significantly grow our renewable energy output from 6.6 GW to over 10 GW by 2030,” said Michael Class, who heads up EnBW’s generation portfolio development.
The project is a win for Vestas, too. “With the installation of the first V236-15.0 MW, we have reached an important milestone for both the He Dreiht project and our offshore ramp-up, which helps Germany build a more secure, affordable, and sustainable energy system,” said Nils de Baar, president of Vestas Northern & Central Europe.
He Dreiht is located about 85 kilometers (53 miles) northwest of Borkum and 110 kilometers (68 miles) west of Helgoland. At peak times, more than 500 workers will be out at sea building the farm, using a fleet of more than 60 ships. EnBW’s offshore team in Hamburg is running the show.
The installation process is a major operation. The 64 foundations were already set in the seabed last year. Parts for the turbines are loaded onto the installation vessel Wind Orca in Esbjerg, Denmark, and shipped out in a 12-hour journey to the construction site. From there, the turbines are lifted into place. Meanwhile, crews are also working on internal wind farm cabling.
A partner consortium made up of Allianz Capital Partners, AIP, and Norges Bank Investment Management owns 49.9% of the shares in He Dreiht.
Read more: Trump admin halts $5 billion NY offshore wind project mid-build
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Tesla has released a quick update about its Tesla Semi factory in Nevada. It says that it is on track for volume production of the electric semi truck in 2026.
The Tesla Semi was first scheduled to go into production in 2019, but it has faced numerous delays.
Now, it appears that there is finally some momentum to bring it to volume production.
For the last two years, Tesla has been working to build a new factory next to Gigafactory Nevada, where it builds the battery packs and drive units for most of its electric vehicles built in North America.
Today, Tesla released a “progress update on the factory, confirming that it finished building and it’s now working on deploying the production lines:
Tesla had previously mentioned aiming for volume production by 2025, but it is now only talking about starting production toward the end of the year and ramping up next year.
The automaker reiterated its planned production capacity of 50,000 units.
We recently reported that an early Tesla Semi customer, Ryder, stated that the electric truck program is experiencing more delays and a price increase described as “dramatic.”
They now expect to take deliveries of their first trucks later in 2026 and said that the price has increased “dramatically,” leading them to scale back their pilot program from 42 to 18 Tesla Semi trucks.
When originally unveiling the Tesla Semi in 2017, the automaker mentioned prices of $150,000 for a 300-mile range truck and $180,000 for the 500-mile version. Tesla also took orders for a “Founder’s Series Semi” at $200,000.
However, Tesla didn’t update the prices when launching the “production version” of the truck in late 2022. Price increases have been speculated, but the company has never confirmed them.
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