Aridge, the flying car unit of XPeng, has tapped investment banks to prepare for an initial public offering in Hong Kong, reports Caixin, citing people familiar with the matter.
The company declined to comment, however speculation about a possible listing began in June 2025, when Aridge appointed Du Chao as CFO. Du, a veteran with nearly two decades of experience in investment banking and corporate finance, previously served as CFO of 17 Education & Technology, where he led the firm through its Nasdaq debut. His appointment is widely viewed as a strategic move aimed at paving the way for Aridge’s IPO.
A listing would serve as a key test of investor interest in China’s emerging “low-altitude economy” as Aridge moves closer to mass production of its dual-mode flying vehicle, targeted for 2026. Sources told Caixin the company had initially planned a US listing via Nasdaq but shifted course, opting for Hong Kong to take advantage of a revived IPO market offering stronger valuation prospects and greater financing certainty.