Major car enterprises are trying to develop flying cars, tapping into trillion yuan low-altitude industry, 21st Century Business Herald reported on Wednesday.

A new flying car brand Govy was launched by carmaker GAC on Dec 18. GOVY AirJet, the brand's first composite-wing flying car, debuted on the same day.

China Changan Automobile Group signed a strategic cooperation agreement with aerial vehicle company EHang on Dec 21, jointly promoting flying car projects including research and development, manufacturing, sale, and operation.

Aiming at urban air mobility, Xpeng Aeroht's flying car "Land Aircraft Carrier" completed its public flight in Shanghai on Dec 14.

Flying cars play an important role in the development of low-altitude economy, giving a new growth point for car enterprises.

Shenzhen has unveiled regulations for promoting the low-altitude economy, which takes effect on Feb 1, marking the country's first dedicated legal framework in the sector.

On the other hand, flying cars are on the verge of key breakthroughs on power systems, flight control, safety and other aspects.

Not only increasing investment and innovation, car enterprises are also participating in formulating industry standards and infrastructure construction, creating healthy and sustainable development for the low-altitude economy.

The concept of "Low-altitude Economy" was first proposed in policy in 2021 and officially included in the national Government Work Report in March 2024. It brings great potential to regional economy development and industry integration. By 2035, the scale of China's low-altitude economy is expected to reach 3.5 trillion yuan, according to the Civil Aviation Administration of China.