Chinese Electric Vehicle (EV) maker Xpeng launched a new car on Sunday, through HT Aero, its affiliate. This car is not like other cars as it is a flaying car that can also be operated on roads. The firm said that it plans to rollout the car within three years.

HT Areo’s flying car is a 6th generation model according to a report by CNBC. It was launched at the Xpeng Tech Day that fell on October 24. The new vehicle can operate on land and air. The company also released its advanced driver assistance system on the same day. This system called XPILOT 4.0 directly competes with Tesla’s Autopilot and the systems are bound to be compared soon.

The company also said that the car is not available commercially, as yet. However, they are planning a rollout in 2024. It also said that the design of the car could be changed in future.

As of now, the following features of HT Aero’s flying car have be mentioned:

It will have a lightweight design.
The rotor in the vehicle can be folded allowing it to be driven on roads.
When the rotors are expanded, then it will become a flying vehicle.
It will have a number of safety features including parachutes.

Flying cars, which are also referred to as electric takeoff and landing vehicles, have been a favorite with many startups and automakers trying to manufacture such vehicles. It is a challenging task as it involves a lot of regulatory issues as well as safety issues.

HT Aero has backing from Xpeng, a popular electric vehicle maker in China, which was founded by He Xiaopeng. A number of high profile venture capital firms are also interested in the land and air vehicle maker. The company has said that it has raised $500 million from such outside investors.