China-based electric vehicle manufacturer Xpeng plans to start mass production of flying cars by 2024. A preliminary price has already been announced, Business Insider reports.

Chinese electric car startup Xpeng unveiled a flying car over the weekend. The company plans to start mass production by 2024.

The Xpeng X2 is being developed by subsidiary HT Aero, a flying car startup. It raised over $500 million last week in its latest round of funding.

According to a posting on the Xpeng website, the X2 has rotors that fold in when the car is driving on the road and unfold for takeoff. It can accommodate two people. Xpeng advertises a flying car for urban use, such as commuting from the airport to the office. The maximum flight time is 35 minutes.

The Nasdaq-listed electric vehicle maker plans to sell the vehicle for under one million Chinese yuan ($ 157,000), Techcrunch reported citing CEO He Xiaopeng.