Xpeng Inc. (XPEV)

XPeng (XPEV) Aims to Begin Deliveries of Flying Car in 2026

XPeng’s (XPEV Quick QuoteXPEV - Free Report) affiliate, Xpeng AeroHT, plans to start delivering its first flying car to customers in 2026, per CNBC. In 2023, Xpeng AeroHT unveiled the Land Aircraft Carrier, a large truck housing a flying two-seater electric drone. The flying car can separate from the truck, allowing passengers to board and fly it.Per Brian Gu, co-president of Xpeng, the car will be available for pre-order this year. It is expected to be priced at around $138,000, with the goal of reducing costs through large-scale production.The company is designing the vehicle for scenic outskirts, collaborating with municipalities to create flying parks and zones. As opposed to urban centers, these areas will not require people to obtain complex approvals to enjoy flying. The flying car is currently undergoing certification with the Chinese aviation regulator.The 2026 delivery timeline is slightly later than Xpeng's previously announced target of fourth-quarter 2025. Robotics and flying cars have been part of the company’s long-term goals. China’s dominant position in the electric vertical take-off and landing (eVTOL) market provides a competitive edge to China-based companies like XPeng to commercialize flying cars this year.Per Morgan Stanley, the eVTOL market is projected to reach $1.5 trillion annually by 2040, serving diverse sectors such as airlines, logistics, emergency services, agriculture, tourism and security operations.Per China Merchants Securities, China leads the global eVTOL market, accounting for 50% of all models, compared with 18% in the United States and 8% in Germany. China's rapid advancement in the flying car industry is fueled by its extensive experience and expertise in EV-related technologies, particularly battery systems.The success of eVTOL vehicles hinges on batteries with an energy density exceeding 400 watt-hours per kilogram, a target that Chinese manufacturers are well-equipped to meet. Leading the charge, Contemporary Amperex Technology Co. Limited, a global leader in vehicle batteries, is developing specialized battery solutions for eVTOL aircraft. This offers Chinese manufacturers an advantage in procurement and technology adaptation.Per reports, the revenues from the eVTOL sector rose 77.3% year on year to 980 million yuan in China last year. The sector is set to achieve wider commercial applications in fields like aerial sightseeing and tourism this year.To support the low-altitude economy, Guangdong, an efficient powerhouse in South China, has issued several plans to develop the eVTOL sector. In Guangzhou, there are currently more than 300 companies related to the low-altitude industry.The city plans to establish a 10 billion yuan low-altitude industry venture capital fund to build an unmanned industrial incubation base in the Nansha district and develop a five square kilometer low-altitude economic industrial park in the eastern part of the city.Zacks Rank & Key PicksXPEV currently carries a Zacks Rank #3 (Hold).Some better-ranked players in the auto space are Geely Automobile Holdings Limited (GELYY Quick QuoteGELYY - Free Report) , Blue Bird Corporation (BLBD Quick QuoteBLBD - Free Report) and Oshkosh Corporation (OSK Quick QuoteOSK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. The Zacks Consensus Estimate for GELYY’s 2024 sales suggests year-over-year growth of 36.6%. The earnings per share (EPS) estimates for 2024 and 2025 have moved up 34 cents and 54 cents, respectively, in the past 60 days. The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 30 days.The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 10.72%, respectively. The EPS estimates for 2024 and 2025 have improved 72 cents and 67 cents, respectively, in the past 30 days. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>