Pioneering Smart Mobility Solutions for the Future

(Hong Kong, March 20, 2025) The low-altitude economy is a formidable trend and has the potential to be the force multiplier for both Hong Kong and Mainland economies. Within the low-altitude economy, there are broad applications and one of the most exciting parts is in the area of flying vehicles. From this backdrop, the Chinney Group is thrilled to announce its official partnership with Alef Aeronautics Inc, a U.S.-based startup, to be its Greater China strategic partner. This collaboration aims to trail blaze the world’s first electric drivable car that can perform vertical takeoff and forward flight to consumers.

With a legacy spanning over 50 years in Hong Kong and with the theme of “Building for The Future”, the Chinney Group is at the forefront of integrating advanced technologies into the construction industry, focusing on automation, digitization, artificial intelligence, and sustainable practices. Five years ago, the Group began its journey in the Greater Bay Area, expanding into the drone and low-altitude flying vehicle businesses. The partnership with Alef Aeronautics Inc is the next step towards embracing the LAE, which the Group views a potential market valued in trillions of dollars by 2040. An electric flying car has the potential to solve environmental challenges by reducing the amount of carbon dioxide emitted; providing greater mobility; creating access to jobs by expanding touch points; and improving general quality of life.

As one of the founding investors in Alef Aeronautics Inc, the Chinney Group shares their objectives in providing safe, legal, and quiet airborne transportation through its innovative flying cars. In 2023, Alef Aeronautics Inc achieved a Special Airworthiness Certification from the Federal Aviation Administration (FAA), positioning itself as a leader ready to operate legally on streets in the near future. To deepen its collaboration with Alef Aeronautics Inc, Chinney Group will be leading the current round of US$20 million Asia tranche of Series A funding. In this round of fund raising, the key milestones are to reach a transition flight of a full-size model and achieving a vertical takeoff with a human being within.

Mr. James Wong, Chairman of Chinney Group, remarked, “Our mission extends beyond constructing physical spaces. We are actively pursuing my vision of sustainable development that bridges the ground and the skies. Alef Aeronautics Inc exemplifies my group’s vision of the low-altitude economy.” Chinney Group remains committed to investing in promising startups and harnessing innovative technologies to drive transformation, ensuring a brighter and more prosperous future for all.