07:42 AM EDT, 03/11/2025 (MT Newswires) -- (Adds share price move in headline and first paragraph. Also includes additional details throughout.)

XPeng ( XPEV ) rose nearly 10% in premarket trading Tuesday, a day after the company said it was planning to manufacture flying cars and humanoid robots by next year, multiple media outlets reported, citing the company's Chairman and Chief Executive He Xiaopeng.

"We are integrating vehicle control with AI to develop a new flight control system into such flying cars, making it safer and more user-friendly," China Daily quoted Xiaopeng as saying.

The EV producer expects to start production in Q2 2026 and commence some deliveries thereafter, The Straits Times reported, citing Xiaopeng, adding that the first batch of flying cars would be mainly used for tourism or short-haul rescue missions.

XPeng ( XPEV ) is considering investing up to 100 billion yuan ($13.8 billion) in humanoid robots, Reuters reported Tuesday, citing state media.

Citigroup upgraded the company's rating to 'buy' from 'neutral' and raised its price target to $29 from $13.70.

XPeng ( XPEV ) did not immediately respond to MT Newswires' request for comment.