The company says it plans a rollout in 2024. The car is not yet commercially available. And HT Aero said the final design might change.

HT Aero’s vehicle will have a lightweight design and a rotor that folds away, the company said. That will allow the car to drive on roads and then fly once the rotors are expanded.

The vehicle will have a number of safety features including parachutes, the company said.

HT Aero is backed by Xpeng and its founder He Xiaopeng. The company raised $500 million last week from a number of outside investors including high-profile venture capital firms.

Flying cars — also called electric vertical take-off and landing vehicles — have garnered a lot of interest from automakers and start-ups.

However, there are a number of challenges for those vehicles to be used widely, including regulation and safety issues.

HT Aero’s new land and air vehicle were introduced at Xpeng’s Tech Day where the company also took the wraps off the latest version of its advanced driver assistance system called Xpilot 4.0.

According to