Xpeng Is Said to Hire Banks for Flying Car Unit IPO in Hong Kong
An Xpeng Aeroht modular flying vehicle.
Photographer: Qilai Shen/BloombergXpeng Inc. has hired banks to work on an initial public offering of its flying car unit in Hong Kong, according to people familiar with the matter.
The Chinese electric-vehicle maker picked JPMorgan Chase & Co. and Morgan Stanley to prepare for a listing of Xpeng Aeroht, the people said, asking not to be identified because the information is private. It has filed confidentially for a share sale that may take place as soon as this year, the people said.