From Middle School Dropout to CEO of a $1 Billion Company: Zhao Deli, Founder of XPeng Aero, and His Flying Dream

From Middle School Dropout to CEO of a $1 Billion Company: Zhao Deli, Founder of XPeng Aero, and His Flying DreamAt eight o'clock in the morning, a group of young people in Guangzhou's XPeng Aero company began their day's work. This company is a darling of the capital market and a leader in China's flying car industry

From Middle School Dropout to CEO of a $1 Billion Company: Zhao Deli, Founder of XPeng Aero, and His Flying Dream

At eight o'clock in the morning, a group of young people in Guangzhou's XPeng Aero company began their day's work. This company is a darling of the capital market and a leader in China's flying car industry. In October 2021, XPeng Aero completed its Series A financing, raising over $500 million. However, you might not expect that the founder of this unicorn company, valued at over $1 billion in the capital market, is a "flying enthusiast" who dropped out of middle school - Zhao Deli. What kind of magic has made Zhao Deli's company gain such favor from capital?

"Fly first or talk first?" "Fly first." This was the conversation between Zhao Deli and He Xiaopeng during their first encounter. Later, Zhao Deli took He Xiaopeng for a ride on a two-seater flying vehicle, the latest product from their team. After circling in the air, He Xiaopeng couldn't hide his excitement. Although he had flown numerous times on airplanes, this small flying vehicle was his first experience. This enjoyable interaction quickly led to their collaboration, pursuing their shared dream of flying.

With He Xiaopeng's help, Zhao Deli's team quickly expanded, and the company headquarters moved from Dongguan to Guangzhou. Years of waiting finally bore fruit, and Zhao Deli ended his life as a "daredevil in the sky."

Obsessed with Flying, From "Crazy" to "Dreamer"

In 2016, Zhao Deli, who had a passionate pursuit of flying, had an "unrealistic" idea - to create a simple and easy-to-use flying device. Everyone around him thought he was crazy, but Zhao Deli firmly believed that great things always come from courageous attempts.

He put his idea into action, establishing his own studio and diving into research and development. However, he underestimated the development costs of a manned flying vehicle. In two years, he went from being a multimillionaire to being heavily in debt, even selling his house and living in a rented apartment. Fortunately, Zhao Deli had a supportive wife who worked away from home to support the family. He devoted all his energy to the research of his flying motorcycle.

The initial tests were conducted on the ground. Even when flying, the altitude was no more than six meters. Despite this, Zhao Deli frequently visited the hospital, with fractures becoming commonplace. People in the studio joked that Zhao Deli should get a membership at the orthopedic department.

Two years passed quickly. In 2018, Zhao Deli achieved a successful test flight for his flying motorcycle after 1,500 test flights and over 50 crashes. In the same year, he collaborated with chief designer Wang Tan to design and produce the company's first single-seater flying car, Traveler T1, which won several international awards.

From Childhood Dreams to Entrepreneurial Journey

Zhao Deli was born in a rural area of Changde, Hunan, near Dongting Lake. As a child, he often saw drones spraying pesticides over the fields and airplanes flying at low altitudes in his hometown. These sights filled him with a longing for flight. When his father asked him what he wanted to be in the future, he blurted out, "I want to fly a plane!"

However, due to limited family resources, Zhao Deli did not have the opportunity to take the pilot exam. He dropped out of middle school and went to work in a factory. Over the next few years, he held various jobs like selling fruit, working as a real estate agent, and managing a neighborhood.

In 2006, Zhao Deli opened a restaurant and accumulated his first pot of gold in two years. However, he never forgot his childhood dream. On his way home one time, he saw a group of children playing with remote-controlled airplanes. The children's laughter and the humming sound of the airplane wings instantly touched his heart.

He joined the ranks of model airplane enthusiasts and became active in various model airplane forums. Soon, he discovered that many people in China were passionate about model airplanes, and he keenly realized this was a business opportunity. He contacted model airplane manufacturers and started selling model airplanes. This experience also inspired him to design his own model airplanes.

Later, he founded a drone company and assembled a research and development team. To design a truly practical drone, Zhao Deli devoted himself to the task day and night. His talent was evident at this point, as he could quickly grasp concepts that took others longer to understand.

Zhao Deli led his team to develop five drones and obtained a patent for "an ultra-miniature fuel-powered drone," which he used as a basis to develop the world's smallest fuel-powered helicopter at the time. This drone was widely acclaimed, and the company's annual sales reached tens of millions of yuan, making Zhao Deli a lot of money.

However, in 2016, due to operational problems, the company ultimately went bankrupt. But Zhao Deli didn't stop there. He shifted his focus to researching flying motorcycles and dedicated all his energy to this dream.

Favor from Capital, The Future of Flying Cars

With He Xiaopeng's help, XPeng Aero experienced rapid growth. He Xiaopeng not only invested in the company but also brought a commercialization mindset. In 2020, Zhao Deli launched the Traveler X1 and X2 projects, achieving test flights in just six months.

He Xiaopeng once told Zhao Deli, "There are only a couple hundred people in all of China who are into flying vehicles, and you're the only one still alive. I've found you."

In 2021, XPeng Aero completed its Series A financing, receiving $500 million from investors in the capital market. No doubt, investors saw the enormous potential of flying cars.

Today, flying cars have become a hot field, with over 200 companies around the world developing them, including traditional automotive giants like Geely, GAC, Volkswagen, General Motors, and Toyota, which have all expressed strong interest.

Morgan Stanley's research report predicts that the flying car industry will generate $300 billion in revenue by 2030 and $1.5 trillion by 2040.

XPeng Aero's current market valuation has surpassed $1 billion, with a bright future ahead.

Conclusion

Driven by his childhood dream of flying, Zhao Deli, a middle school dropout, has become the CEO of a company with a market value of $1 billion, even though he had to sacrifice his fortune. His entrepreneurial journey was full of hardship, but he always persevered in his dream, turning it into reality step by step.

When pursuing your dreams, even in the face of difficulties and obstacles, keep going, because you never know where the next miracle will occur.

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