WaveFly 5X completes maiden flight in Jiangsu province

"It is projected to roll off the production line by the end of this year, and we expect to produce about 100 aircraft this year. Annual production capacity will be 2,000 units from 2027, and our future capacity will be determined by market demand," Wang said.

"In line with Navee products' convention, the waterborne aircraft will first target high-end overseas markets and then be gradually introduced to other regions of the world," said Wang.

Targeting high-net-worth individuals, the product would carry a price tag of $199,999 in the US market and is expected to serve both tailor-made private clients and businesses in the cultural and tourism sectors, according to Wang.

The availability of the waterborne aircraft is among the slew of efforts Navee has made to offer an ecosystem for intelligent outdoor travel in various scenarios including water, land and air.

"The reason we are focusing on the low-altitude economy is that, as it becomes a trend, rigid demand for such products has emerged. To stay ahead of the game, we must respond quickly to market demand," said Zhu Jianjun, head of global business at Navee.