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On January 12, sources with inside knowledge revealed that XPENG Motors (09868.HK) has enlisted the services of J.P. Morgan and Morgan Stanley to aid its flying car subsidiary, XPENG AERHT, in launching an initial public offering (IPO) on the Hong Kong Stock Exchange. The company has discreetly filed its listing application and may successfully navigate through the process by the end of this year at the earliest.
Previously, XPENG AERHT underwent a rebranding of its international identity, adopting the name 'Aridge'. Moreover, it has set up a state-of-the-art, 120,000-square-meter intelligent manufacturing facility in Guangzhou. This facility is designed to have an annual production capacity of 10,000 units, with an initial annual production capacity of 5,000 units. The company's first mass-produced flying car is projected to reach customers by the end of 2026.
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