EHang Secures Over $22 Million Investment from Enpower and Others

EHang's Strategic Investment Boosts Urban Air Mobility Growth

GUANGZHOU, China - EHang Holdings Limited (Nasdaq: EH), renowned for its leadership in Urban Air Mobility (UAM), has recently announced a significant strategic investment exceeding US$22 million. This investment is spearheaded by Zhuhai Enpower Electric Co., Ltd., a leading provider of power systems for new energy vehicles, alongside a strategic institutional investor from the Middle East.

Investment Details and Partners

Both Enpower and the institutional investor have committed to a 180-day lock-up period, reinforcing their dedication to EHang's vision. This collaboration reflects Enpower's long-standing partnership and technological cooperation with EHang, aimed at developing advanced electric motor drive systems for EHang’s innovative electric vertical take-off and landing (eVTOL) aircraft.

International Market Expansion

The interest from a UAE-based investor underlines the potential and optimism surrounding China's developing low-altitude economy. EHang has identified the UAE as one of its most significant markets outside of China, with a clear order intention of 100 units, out of which five have already been successfully delivered. This partnership will leverage the investor’s extensive financial and business network to propel EHang’s growth in the Middle East and Southeast Asia.

Financial Implications of the Investment

This influx of investment significantly strengthens EHang's financial standing, bringing its year-to-date financing close to US$100 million. These funds are essential as EHang prepares for the next critical phase of its development in the global UAM industry. The investment will be crucial in advancing next-generation eVTOL technologies, enhancing production capabilities, expanding the workforce, and establishing new operational headquarters.

Vision for the Future

Conor Yang, EHang’s Chief Financial Officer, expressed enthusiasm about the strategic investment, emphasizing it as a clear affirmation of stakeholder confidence in EHang's mission and market position. This investment is poised to accelerate EHang's development pace, allowing them to capitalize on emerging opportunities within the UAM sector. Collaboration with strategic partners will further bolster EHang’s competitive position while maintaining a firm commitment to innovation, safety, and sustainability in urban air transport.

About EHang Holdings Limited

EHang (Nasdaq: EH) stands at the forefront of urban air mobility technology. With a mission to foster safe and eco-friendly aerial transport, EHang delivers unmanned aerial vehicle systems and solutions across various sectors, including passenger transport, logistics, smart city management, and aerial media. The flagship product, EH216-S, has set numerous benchmarks, obtaining the first-ever type, production, and standard airworthiness certificates for pilotless eVTOL aircraft issued by the Civil Aviation Administration of China.

Committed to reshaping air mobility and making it accessible to everyone, EHang continually explores innovative aerial technologies that enhance smart urban living.

Frequently Asked Questions

What is EHang's primary business focus?

EHang is dedicated to urban air mobility (UAM), providing solutions through unmanned aerial vehicles for various applications including passenger transport and logistics.

Who are the main investors in EHang's recent funding?

The recent investment was primarily led by Zhuhai Enpower Electric Co., Ltd. and a strategic institutional investor from the Middle East.

How much was the total investment that EHang announced?

EHang announced a total strategic investment of over US$22 million.

What are EHang's plans for the investment funds?

The funds will be utilized to enhance eVTOL technologies, expand production capacity, grow the workforce and establish new operational headquarters.

What is EHang's flagship product?

EHang's flagship product is the EH216-S, which has obtained the world’s first type certificate for pilotless eVTOL aircraft.

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