Fangda Partners advised Lugard Capital on its investment in the latest, nearly US$200 million equity financing round of Guangdong Huitian Aerospace Co Ltd (“Aridge”), an XPeng-backed, Guangzhou-headquartered pioneer in the manned low-altitude flight and flying car sector.

Following this round, Aridge’s total historical equity financing has reached approximately US$1 billion, cementing its position as one of the most prominent enterprises in Asia’s manned low-altitude flight sector. Lugard Capital participated in this round alongside other prominent investors, including Hillhouse and HongShan.

The proceeds will support Aridge’s accelerated commercialization and mass production of its modular flying car platform. Trial production is already underway at the company's dedicated facility - the world's first modern assembly line for flying cars - with full mass production targeted before the end of 2026.

Drawing on its fully integrated capabilities across the Greater Bay Area, Fangda Partners acted as sole legal advisor to Lugard Capital, providing seamless Hong Kong law and PRC law advice across all aspects of the transaction.

The Fangda team was led by partner Mark Lehmkuhler and Bao Chen, supported by associates Joe Scheu and Mia Wang.