The flying cars subsidiary of the electric car start-up Xpeng has secured a financing round of 150 million US dollars that it needs to start mass production. As the business magazine Caixin reported on Tuesday, XPeng Aeroht did not name the investors in the round coordinated by the government in Guangzhou. However, at least three state-owned companies are involved, including a subsidiary of the Guangzhou Development District Holding Group, which has made the largest single investment of 70 million dollars. Sources put the valuation of XPeng Aeroht at over one billion US dollars after the investment, according to Caixin.