XPeng (NYSE:XPEV) AeroHT, an affiliate of Xpeng, plans to deliver a flying car to its customers by 2026, as stated by the Chinese EV maker’s co-president, Brian Gu, in an interview with CNBC on Friday. However, investors weren’t impressed with the news, as shares fell over 1% in pre-market trading.
The company is expanding its product pipeline. Last year, Xpeng AeroHT unveiled the Land Aircraft Carrier—a large truck with a detachable two-seater passenger electric drone for flying.
Details of XPeng’s Flying Car
Brian Gu stated that the flying car will be available for pre-orders this year and is aiming for delivery by 2026. Gu added that the flying car is currently undergoing certification with Chinese aviation regulators, with delivery now aimed for 2026, slightly later than the previously targeted late 2025.
The company’s co-president also mentioned that passengers will initially require a special license to fly the drone.
Analysts Hold Contrary Views on XPeng’s Product Pipeline
XPeng is increasingly looking to expand its electric mobility pipeline, and as Gu commented to CNBC, robotics and flying cars remain part of the company’s longer-term goals. However, Wall Street analysts hold a contrarian view of the company’s product pipeline.
According to the TipRanks Stock Analysis tool, “Bulls Say, Bears Say,” analysts bullish on XPEV stock expect to see a “strong product cycle,” with 10 models expected to be launched over the next three years that could drive “future growth.”
However, analysts bearish on XPEV stock believe that the company’s product pipeline for 2024 indicates that the automaker has not yet found its “brand proposition and comprehensive product mix.”
Is XPEV Stock a Good Buy?
Analysts remain cautiously optimistic about XPEV stock, with a Moderate Buy consensus rating based on eight Buys, four Holds, and two Sells. Year-to-date, XPEV has declined by more than 40%, and the average XPEV price target of $12.24 implies an upside potential of 48% from current levels.
