EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the
world’s leading urban air mobility (“UAM”) technology platform
company, announced that it has signed a strategic cooperation
agreement (the “Agreement”) with the Management Committee of
Guangzhou Airport Economic Zone, the Administrative Committee of
Guangzhou Economic and Technological Development District
("Guangzhou Development District Administrative Committee"), and
Guangzhou Automobile Group Co., Ltd. (601238.SH, 02238.HK, "GAC
Group"). All parties will fully leverage their respective strengths
and resources to jointly create a robust low-altitude industry
ecosystem, which will contribute to Guangzhou's leadership in the
trillion-dollar low-altitude sector and facilitate the high-quality
development of the low-altitude economy.
(The strategic cooperation among Guangzhou
Government Agencies, GAC Group and EHang)
According to the Agreement, GAC Group and EHang will join forces
in research and development, production, sales, and other areas to
strengthen the low-altitude market. GAC Group is set to fully
capitalize on its extensive expertise in smart manufacturing and
its well-structured industrial chain to accelerate the production,
adoption and market expansion for EHang’s passenger-carrying
unmanned aerial vehicles (“UAVs”). Meanwhile, EHang will maximize
its expertise in developing and integrating passenger-carrying UAVs
to support the development of GAC Group’s flying cars. The joint
effort will be dedicated to accelerating the layout of the
low-altitude industry in Guangzhou, injecting strong momentum into
the rapid growth of Guangzhou's low-altitude industry.
The Management Committee of Guangzhou Airport Economic Zone and
the Guangzhou Development District Administrative Committee will
initially focus on airspace management, infrastructure development
and policy support to carry out the delineation of low-altitude
airspace and air routes, establish low-altitude flight service
stations, and promote deep cooperation between the government and
enterprises. The initiative will provide support to EHang and GAC
Group for their technology research and development, production,
and promotion for product applications in Guangzhou.
Previously, the Guangzhou Economic and Technological Development
District and the Huangpu district of Guangzhou issued “Measures for
Promoting High-Quality Development of Low-Altitude Economy in
Guangzhou Economic and Technological Development District (Huangpu
District)" (“10 Measures for Low-Altitude Industry”) and detailed
policies to encourage and support the development of the
low-altitude economy industry with meaningful rewards and
subsidies. This strategic cooperation is an excellent reflection
following China’s Central Economic Work Conference’s calls for
accelerating strategic emerging industries such as the low-altitude
economy and promoting industrial advancements through technological
innovation. This is a key result from China’s strategies to
generate new industries, models, and momentum and develop new
quality productivity with disruptive and progressive technologies.
The cooperation will also help solidify the high-quality
development of the low-altitude economy and widely add strength for
building the low-altitude economic industry in the Greater Bay
Area.
Mr. Huazhi Hu, Founder, Chairman and CEO of EHang, stated, "As a
local enterprise in Guangzhou, we are delighted to harness EHang's
leading advantages in passenger-carrying UAVs to partner with t the
Management Committee of Guangzhou Airport Economic Zone, the
Administrative Committee of Guangzhou Economic and Technological
Development District, and GAC Group for propelling the high-quality
development of Guangzhou's low-altitude economy. With close
collaboration among all parties, we will explore new horizons in
the production and manufacturing, sales and marketing, as well as
the commercial operation of EHang's passenger-carrying UAVs,
injecting strong momentum into the development of the low-altitude
industry in Guangzhou and empowering further leaps in China's
low-altitude economy."
(Image: EHang’s EH216-S passenger-carrying UAV
flew in the Jiulong Lake Park, Huangpu district, Guangzhou)
(Image: GAC Group’s flying car GOVE)
About Management Committee of Guangzhou Airport Economic
Zone
The Management Committee of Guangzhou Airport Economic Zone is
an agency under the Guangzhou Municipal People's Government. It
exercises top municipal level management authority within key
development areas and is responsible for overall planning,
development and construction, investment promotion, administrative
approvals, project preparation, and enterprise services, providing
social management and public services for economic development and
district construction.
About Guangzhou Development District Administrative
Committee
The Guangzhou Economic and Technological Development District is
one of the first national-level economic and technological
development districts in China. It is located in the eastern part
of Guangzhou, with convenient transportation, a good ecological
environment, well-established infrastructure, and a superior
investment environment. In 2023, the Guangzhou Economic and
Technological Development District ranked 2nd in the comprehensive
development level assessment of national-level economic and
technological development districts, maintaining its position for
six consecutive years.
About GAC Group
Guangzhou Automobile Group Co., Ltd. (“GAC Group”, 601238.SH or
02238.HK) is headquartered in Tianhe district, Guangzhou. It is a
large-scale state-owned automobile enterprise listed in both
mainland China and Hong Kong. In 2023, it ranked 165th in the
Fortune Global 500 and 49th in the Top 500 Chinese Enterprises. Its
main business covers seven major segments: research and
development, vehicles, components, trade and travel, energy and
ecology, internationalization, investment and finance, adhering to
the simultaneous promotion of independent innovation and joint
venture cooperation.
About EHang
EHang (Nasdaq: EH) is the world’s leading urban air mobility
(“UAM”) technology platform company. Our mission is to enable safe,
autonomous, and eco-friendly air mobility accessible to everyone.
EHang provides customers in various industries with unmanned aerial
vehicle (“UAV”) systems and solutions: air mobility (including
passenger transportation and logistics), smart city management, and
aerial media solutions. EHang has obtained the world’s first type
certificate and standard airworthiness certificate for unmanned
eVTOL from the Civil Aviation Administration of China in 2023. As
the forerunner of cutting-edge UAV technologies and commercial
solutions in the global UAM industry, EHang continues to explore
the boundaries of the sky to make flying technologies benefit our
life in smart cities. For more information, please visit
www.ehang.com.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking” statements pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Statements that are not historical facts,
including statements about management’s beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to those
relating to certifications, our expectations regarding demand for,
and market acceptance of, our products and solutions and the
commercialization of UAM services, our relationships with strategic
partners, and current litigation and potential litigation involving
us. Management has based these forward-looking statements on its
current expectations, assumptions, estimates and projections. While
they believe these expectations, assumptions, estimates and
projections are reasonable, such forward-looking statements are
only predictions and involve known and unknown risks and
uncertainties, many of which are beyond management’s control. These
statements involve risks and uncertainties that may cause EHang’s
actual results, performance or achievements to differ materially
from any future results, performance or achievements expressed or
implied by these forward-looking statements.
Media Contact: pr@ehang.com
Investor Contact: ir@ehang.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3ef25834-d9a0-4a95-babc-905d144aa5cc
https://www.globenewswire.com/NewsRoom/AttachmentNg/b317d2c6-7567-49a2-b3f9-5932ce081c03
https://www.globenewswire.com/NewsRoom/AttachmentNg/e55a53b2-fc06-4690-a8e8-2125bd0e6e58
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