Xpeng Aeroht, a subsidiary of Xpeng (NYSE: XPEV) focused on developing flying cars, has made a significant move by appointing Du Chao as its first-ever CFO (chief financial officer). Du Chao, a seasoned Wall Street banker with a background in overseas IPO financing, brings a wealth of experience to the role. He previously served as CFO at 17 Education & Technology and successfully led the company through its listing on the Nasdaq.
According to a report by local media outlet Sina Tech, Du Chao’s appointment is a strategic decision that could potentially accelerate Xpeng Aeroht’s plans for an IPO. With 10 years of experience at Deutsche Bank, where he spearheaded numerous overseas IPO financing and cross-border M&A projects, Du Chao is well-equipped to steer Xpeng Aeroht through its financial strategies and growth trajectory.
Xpeng Aeroht’s decision to bring Du Chao on board is seen as a signal of the company’s intention to expedite its IPO plans. While the company has future IPO aspirations, its current focus remains on research and development as well as mass production. This strategic move to appoint a CFO underscores Xpeng Aeroht’s commitment to enhancing its financial operations and paving the way for future growth opportunities.
Established in 2020 as the technology division majority-owned by Guangzhou-based Xpeng, Xpeng Aeroht is led by chairman and CEO He Xiaopeng. The company is at the forefront of developing innovative flying car technologies, with plans to introduce eVTOL (Electric Vertical Takeoff and Landing) flying cars and modular flying cars. These cutting-edge products aim to revolutionize the transportation industry and offer a new mode of urban mobility.
In line with its ambitious goals, Xpeng Aeroht is making significant strides in its manufacturing capabilities. Construction is underway for a state-of-the-art flying car manufacturing facility with an annual production capacity of 10,000 units. This facility, set to be completed in the fourth quarter, will utilize modern assembly lines for large-scale mass production of the modular flying car, a groundbreaking concept that combines a flying car with a mother vehicle for recharging.
As Xpeng Aeroht continues to advance its flying car technologies and expand its production capacity, the company remains committed to driving innovation and shaping the future of urban air mobility. With Du Chao on board as CFO, Xpeng Aeroht is well-positioned to achieve its strategic objectives and solidify its position as a leader in the flying car industry.
