HK Stock Market Move | XPENG-W (09868) rose more than 3%, eVTOL pilot projects will be conducted in multiple cities, Xiaopeng's Huitian "land aircraft carrier" made its debut at the Zhuhai Airshow.

XPENG-W(09868) rose more than 3%, as of the time of writing, rose 2.49% to 51.5 Hong Kong dollars with a turnover of 4.33 billion Hong Kong dollars. On the news front, it was reported in the market on November 18 that Sun Weiguo, director of the General Aviation Business Department of the China Air Transport Association and the Unmanned Aircraft Working Committee, revealed at the 2024 International Electric Aviation (Kunshan) Forum that the Civil Air Traffic Management Commission is about to carry out eVTOL pilot projects in six cities. Several industry insiders mentioned that the six pilot cities are preliminarily determined to be Hefei, Hangzhou, Shenzhen, Suzhou, Chengdu, and Chongqing. The pilot program has specific plans for routes and regions, and authorizes local governments for airspace below 600 meters, meaning that relevant local governments will have to take on more management responsibilities. Of note, at the recent 15th China International Aviation Exhibition, Xiaopeng Huitian's "Land Aircraft Carrier" attracted the attention of many media outlets. The person in charge mentioned that the current price of the "Land Aircraft Carrier" will not exceed 2 million yuan, and as demand increases, costs will continue to decrease. It is reported that the manufacturing base for this flying car is already under construction, which is the world's first flying car factory to utilize a modern assembly line for mass production, and will produce the aircraft part of the "Land Aircraft Carrier" with a planned annual production capacity of 10,000 units, scheduled for completion in August next year, and the flying cars will be in mass production and delivered in 2026.