Market Insight | XPENG-W is now up nearly 4% as the company adjusts the structure of its technical development department. XPeng Huitian will build a flying car mass production factory in Guangzhou

XPENG-W is now up nearly 4%, as of the time of publication, up 4.12% to HKD 27.8, with a turnover of HKD 2.23 billion. On the news front, according to media reports, XPeng recently restructured its technical development department, splitting the relevant departments into three new departments: AI end-to-end, AI applications, and AI efficiency. Among them, the AI end-to-end department is responsible for the research and development of end-to-end models, while the AI applications department is responsible for delivery. XPeng stated that the company has made corresponding organizational adjustments to its autonomous driving department, aiming to accelerate the evolution of AI capabilities and the transformation to an AI-centric organization. It is worth noting that on August 5th, XPeng Huitian announced that it had received USD 150 million in Series B1 financing and simultaneously initiated Series B2 financing. This round of financing will ensure the smooth realization of XPeng Huitian's flying car research and development, large-scale production, and commercialization processes. Additionally, XPeng Huitian is about to build the world's first flying car factory that uses modern assembly lines for large-scale production in the Guangzhou Development Zone, initially for the production of the flying body part of the modular flying car "Land Carrier." At the same time, the modular flying car "Land Carrier" is scheduled to start pre-sale in the fourth quarter of this year