On June 30, Aerofugia, a Chinese automaker under the Geely Group that focuses on aviation and flying cars, announced it closed a Series A funding worth more than 100 million RMB ($13.78 million). The financing, led by Tsinghua Holdings Capital, will be used to support research and development into Aerofugia’s AE200 model, a five to six-seater flying car and vertical space solutions for urban environments. Tsinghua Holdings Capital’s Sino Jet is one of the largest business aviation companies in the Asia-Pacific region. Aerofugia said that Sino Jet’s operational experience can support the airworthiness of the AE200, and its market scale and terminal advantages can accelerate its commercial use. [Caixin, in Chinese]