Jul 01, 2023 05:53 AM

BUSINESS

Geely-Backed Flying Car Maker Raises $13.8 Million

By Fang Zuwang and Han Wei

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The AE200 is a manned five-seat electric vertical take-off and landing vehicle.

The AE200 is a manned five-seat electric vertical take-off and landing vehicle.

Aerofugia, a flying car developer backed by Zhejiang Geely Holding Group Co. Ltd., raised more than 100 million yuan ($13.8 million) to fund product development and applications.

The Series A financing round was led by Tsinghua Holdings Capital (TH Capital), followed by SIP Oriza Seed Fund Management Co. Ltd. and two other investors, Aerofugia said Friday.

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