Aerofugia Secures Series C Funding and 50-Unit Firm Order from Sino Jet

In a significant week for the low-altitude economy, Aerofugia, a subsidiary of Geely Technology Group, announced the completion of its Series C financing round and the signing of a definitive procurement contract for 50 AE200 eVTOL aircraft. The announcements, made during the AERO Asia 2025 exhibition in late November, mark a critical transition for the company from development to commercialization.

The dual milestones underscore the rapid maturation of China’s electric vertical takeoff and landing (eVTOL) sector. With fresh capital to fuel airworthiness certification and a confirmed orders book from the Asia-Pacific region’s largest business aviation operator, Aerofugia is positioning itself as a frontrunner in the race to launch commercial urban air mobility services.

Series C Financing to Accelerate Certification

On November 27, 2025, Aerofugia confirmed the successful completion of its Series C financing round. While the exact valuation remains undisclosed, the company stated that the round raised “hundreds of millions of RMB.”

This injection of capital follows a Series B round completed in June 2024. According to the company’s official statement, the funds are earmarked for three primary objectives:

• Accelerating the research and development of the AE200 aircraft.
• Finalizing airworthiness certification with the Civil Aviation Administration of China (CAAC).
• Preparing for commercial operations and fleet delivery.

The continued investor support highlights confidence in Aerofugia’s technical roadmap, particularly as the AE200 progresses through the advanced stages of compliance testing.

Sino Jet Commits to 50 Units

Perhaps the most operationally significant announcement came on November 28, when Aerofugia signed a definitive procurement contract with Sino Jet (Hualong Aviation). The deal solidifies a firm order for 50 units of the AE200 eVTOL.

This agreement represents a conversion of a previous Letter of Intent (LOI) for 100 units into a binding contract for the first batch of 50 aircraft. Sino Jet intends to integrate these vehicles into its existing fleet to create a “Business Aviation + eVTOL” service model. By utilizing eVTOLs for the “last mile” of travel, such as transfers between airports and city centers, Sino Jet aims to reduce total travel time for high-end clients by up to 80%.

“Sino Jet plans to integrate these aircraft into its business aviation fleet… offering seamless, efficient connections for high-end travelers.”

Aerofugia Press Release

Expanding the Ecosystem

Beyond the Sino Jet deal, Aerofugia secured additional strategic wins during the exhibition:

• Air Union (Konglian Jiexing): Signed a confirmed order to explore low-altitude expansion, with a potential focus on overseas markets.
• Dazhong Transportation: Entered a comprehensive cooperation agreement to develop “urban three-dimensional travel” solutions, likely integrating air mobility with ground transportation networks.
• Shenzhen Urban Transport: Signed a strategic agreement focused on “Order Landing + Production Planning Synergy” to integrate eVTOL operations into Shenzhen’s smart city infrastructure.

The AE200: Technical Specifications

The aircraft at the center of these agreements, the AE200, is a 5-to-6-seat tilt-rotor eVTOL designed for high-density urban environments. It features an all-electric propulsion system capable of vertical takeoff and efficient forward flight.

According to Aerofugia, the aircraft boasts a range of approximately 200 kilometers and a cruise speed of roughly 248 km/h. These specifications are tailored to cover the majority of intra-city and inter-city commuting needs within China’s major economic zones.

The AE200 has already completed critical technical milestones, including full-tilt transition flight tests. It is currently undergoing rigorous airworthiness certification processes with the CAAC, a prerequisite for commercial deployment.

AirPro News Analysis

The transition from non-binding Letters of Intent (LOIs) to definitive procurement contracts is a pivotal moment for any eVTOL manufacturer. In an industry often criticized for inflated order books consisting of “soft” commitments, Aerofugia’s ability to lock in a firm 50-unit contract with a major operator like Sino Jet distinguishes it from many competitors.

Furthermore, the strategic alignment with ground transport giants like Dazhong Transportation suggests a pragmatic approach to infrastructure. Rather than viewing eVTOLs in isolation, Aerofugia is building an ecosystem where air taxis serve as a complementary node in a broader multimodal transport network. This “ecosystem-first” strategy may prove essential for overcoming the logistical hurdles of early adoption.

Sources

• Aerofugia Official News