(Yicai) March 21 -- Farasis Energy was picked to supply high-voltage lithium-ion batteries and two other components for the flying car unit of Chinese new energy vehicle startup Xpeng Motors.

Farasis Energy was also named the designated high- and low-voltage connectors supplier for Xpeng Aeroht's next-generation flying car prototype, the Ganzhou-based firm announced late yesterday. 

The deal marks a critical milestone in Farasis Energy's years of efforts in the low-altitude economy sector, strengthening its industry-leading position and injecting new momentum into future growth, according to the company.

On March 18, Chinese battery giant EVE Energy announced it was named the designated low-voltage batteries supplier of Xpeng Aeroht. The products will be used as an auxiliary power source for the client's next-gen prototype, it added.

Xpeng Aeroht will likely finish building its new plant in Guangzhou in the third quarter of this year. The factory will have an annual production capacity of 10,000 Land Aircraft Carriers, which use a range-extender hybrid powertrain. Mass production is scheduled for next year.

The Land Aircraft Carrier is designed for personal short-range low-altitude travel, tourism services, and public utilities such as emergency rescue operations, according to Xpeng Aeroht.

Despite jumping by 3.5 percent in the morning trading session, shares of Farasis [SHE: 688567] closed 0.9 percent lower at CNY14.04 (USD1.94) each today, as the broad market experienced another day of correction, the Shanghai Stock Exchange’s Science and Technology Innovation Board 100 Index, of which Farasis is a component stock, fell 2.9 percent.

Editor: Martin Kadiev