XPeng Inc. ( XPEV ) shares are trading higher on Tuesday.

Xpeng Aeroht, the flying car division of Xpeng ( XPEV ), reportedly unveiled its modular flying car, the Land Aircraft Carrier, and revealed plans for mass production and pricing.

The company plans to start mass production and deliveries in 2026, with the vehicle priced at up to RMB2 million yuan ($280,000), according to founder and president Zhao Deli, during an online event today, reported CnEV Post.

The company aims to conduct the modular flying car’s first public manned flight at the Zhuhai airshow in November and will also feature it at the Guangzhou auto show the same month.

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The updated production schedule for Xpeng Aeroht’s modular flying car has been pushed back from earlier plans. Initially, pre-orders were set to begin in the fourth quarter of 2024, with mass production and deliveries slated for the fourth quarter of 2025.

Now, pre-sales are planned for late 2024, with production and deliveries starting in 2026, CnEV Post added.

Xpeng Aeroht’s Guangzhou factory is expected to complete construction and produce its first prototype by July 31, 2025. Construction will commence between late September and early October this year, with a target annual production capacity exceeding 10,000 units.

According to Zhao, the company aims to surpass the combined output of all global eVTOL (Electric Vertical Takeoff and Landing) manufacturers, the report added.

In August, XPENG ( XPEV ) delivered 14,036 Smart EVs, marking a 3% increase year-over-year and a 26% rise from the previous month. For the first eight months of 2024, XPENG’s deliveries totaled 77,209 Smart EVs, reflecting a 17% year-over-year increase.

Price Action: XPEV shares are trading higher by 6.21% to $8.55 at last check Tuesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.