Aridge, the flying car arm of XPeng, has engaged investment banks to prepare for an initial public offering in Hong Kong, reported Caixin.

The company did not comment, but speculation about a listing began in June 2025 when Aridge named Du Chao as chief financial officer. Du, with nearly 20 years of investment banking and corporate finance experience, previously guided 17 Education & Technology through its Nasdaq debut. His appointment is seen as a step towards Aridge's IPO.

A Hong Kong listing would test investor appetite for China's emerging low-altitude economy as Aridge nears mass production of its dual-mode flying vehicle, scheduled for 2026. Sources told Caixin the firm had first considered a US Nasdaq listing but switched to Hong Kong to benefit from a revived IPO market, stronger valuations and greater financing certainty.