Aerofugia Raises Nearly $150 Million to Get Flying Taxis Certified
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Aerofugia’s AE200-100 passenger eVTOL aircraft. Photo: VCG
Aerofugia, a developer of electric vertical takeoff and landing (eVTOL) aircraft backed by Zhejiang Geely Holding Group Co. Ltd., has secured nearly 1 billion yuan ($144 million) in fresh capital to fund the final regulatory sprint for its flying taxis.
The financing highlights the intensifying race within China’s “low-altitude economy,” where state-backed funds are increasingly betting on manufacturers as they transition from technical verification to commercial scale.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- Aerofugia secured nearly 1 billion yuan ($144 million) to support final regulatory steps for its AE200 eVTOL aircraft and global expansion.
- Chinese state-backed funds are increasingly investing in the low-altitude economy; Aerofugia shareholders from Chengdu and Hangzhou hold 7.65% and 4.65% stakes, respectively.
- Aerofugia aims for airworthiness certification and commercial operations in 2026, with initial focus on high-end residential communities for safety reasons.
AI generated, for reference only
Who’s Who
- Aerofugia
- Aerofugia, or 沃飞长空, is an eVTOL aircraft developer backed by Zhejiang Geely Holding Group Co. Ltd. It recently secured nearly 1 billion yuan ($144 million) to fund the final regulatory requirements for its flying taxis. The company aims to obtain airworthiness certification for its AE200-100 aircraft and begin commercial operations in late 2026. State-backed funds from Chengdu and Hangzhou are among its shareholders.
- Zhejiang Geely Holding Group Co. Ltd.
- Zhejiang Geely Holding Group Co. Ltd. backs Aerofugia, an eVTOL aircraft developer. Geely's investment supports Aerofugia's efforts to secure airworthiness certification for its flying taxis, specifically the AE200 series. This highlights Geely's involvement in China's rapidly developing "low-altitude economy" and its commitment to funding innovative transportation solutions.
- Aridge
- Aridge is the flying car unit of XPeng Inc. In July 2025, it successfully raised $250 million in a funding round. Out of this total, $150 million came from three state-owned firms located in Guangzhou.
- CSC Financial Co. Ltd.
- CSC Financial Co. Ltd. (中金公司) led the latest funding round for Aerofugia, a developer of electric vertical takeoff and landing (eVTOL) aircraft. This investment helps Aerofugia secure nearly 1 billion yuan ($144 million) to fund the final regulatory steps for its flying taxis.
- New Alliance Capital
- New Alliance Capital is an investor that participated in Aerofugia's latest funding round, which secured almost 1 billion yuan ($144 million) to fund the final regulatory steps for its flying taxis.
- Vertex Ventures
- Vertex Ventures is an investor that participated in Aerofugia's latest funding round, helping the company secure nearly 1 billion yuan ($144 million). This capital injection will support Aerofugia's efforts to obtain airworthiness certification for its AE200 series aircraft and advance its commercial operations in the "low-altitude economy."
- Luminous Ventures
- Luminous Ventures, referred to by its Chinese name 联络资本, participated in Aerofugia's latest funding round, which secured nearly 1 billion yuan ($144 million). Aerofugia, backed by Zhejiang Geely Holding Group Co. Ltd., is a developer of electric vertical takeoff and landing (eVTOL) aircraft.
- Panorama Capital
- Panorama Capital is an investor in Aerofugia, an eVTOL aircraft developer. They participated in Aerofugia's latest funding round, which secured nearly 1 billion yuan ($144 million) to support the company's efforts in achieving airworthiness certification for its AE200 series aircraft.
- Panlin Capital
- Panlin Capital participated in Aerofugia's latest funding round, joining other investors in supporting the developer of electric vertical takeoff and landing (eVTOL) aircraft. As an existing shareholder, Panlin Capital contributed to the nearly 1 billion yuan ($144 million) secured by Aerofugia to advance its flying taxi technology and certification efforts.
- CAS Star
- CAS Star (中科创星) is an existing shareholder in Aerofugia, an eVTOL aircraft developer. CAS Star participated in Aerofugia's latest funding round, which secured nearly 1 billion yuan ($144 million) to fund regulatory certifications and commercial development for its flying taxis.
- EHang Holdings Ltd.
- **EHang Holdings Ltd. (亿航智能)** is mentioned as an industry pioneer in the certification race for electric vertical takeoff and landing (eVTOL) aircraft. Aerofugia, another developer, is positioned as a potential runner-up in obtaining airworthiness certification, following EHang's lead.
AI generated, for reference only
What Happened When
- December 2023：
- The Civil Aviation Administration of China issued draft special conditions for the AE200-100 model.
- 2025：
- Guo Liang explained that targeting high-end residential communities is driven by safety considerations.
- July 2025：
- XPeng Inc.’s flying car unit Aridge raised $250 million in a funding round.
- End of 2025：
- Aerofugia completed the first phase of verification test flights for its mass-production configuration.
- 2026：
- For early commercialization, Aerofugia plans to target high-end residential communities.
AI generated, for reference only
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新