EHang Partners with Wencheng County, Securing Order for 30 Units of EH216-S and Purchase Plan for Additional 270 Units
June 21 2024 - 9:36AM
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 cooperation agreement with
the government of Wencheng County, Wenzhou City, Zhejiang Province,
to jointly develop UAM and supporting public service ecosystem for
the low-altitude economy. Based on this cooperation, Wencheng
County Transportation Development Group Co., Ltd. has signed a
purchase agreement with EHang for 30 units of the EH216-S and has
already paid 50% of the total contract price as a pre-delivery down
payment, with the remainder payable upon delivery. Additionally,
the customer plans to purchase an additional 270 units of EH216-S
by the end of 2026 and already paid a non-refundable deposit.
Looking ahead, EHang and Wencheng County will work together in
establishing a low-altitude industry chain across the region,
including demonstration, sales, maintenance, and operations of
pilotless passenger-carrying aerial vehicle, to create momentum and
advantages that drives the development of economy and UAM ecosystem
within Zhejiang Province.
Wencheng County, a top ten ecological tourism city in Zhejiang
Province, is a typical demonstration county for low-altitude
economy application scenarios in the southeastern coastal
mountainous areas. With its rich natural resources, low-altitude
economy application in Wencheng hold great potential. Wencheng
County will join EHang to spearhead the development of aerial
tourism and explore innovative commercial applications. This
collaboration aims to provide thrilling aerial sightseeing
experiences for visitors, utilizing the county's wealth of scenic
natural attractions.
Within this year, Wencheng County plans to set up multiple
aerial sightseeing routes at Tianding Lake, the Baizhangji Falls,
the canyon, and the verdant forests, as well as establish regular
operations of electric vertical take-off and landing (“eVTOL”)
aircraft.
Wencheng County has proactively responded to the central
government's call to develop the low-altitude economy. The county
has established a committee to oversee the high-quality development
of the low-altitude economy, and has formulated a detailed
implementation plan, aiming to transform Wencheng into a pioneering
low-altitude economy zone by 2026. This will involve creating more
than 10 showcase applications, which will expand the local
low-altitude economy to achieve over RMB1 billion in market size of
operational service and open up multiple low-altitude air
routes.
Mr. Zhenhai Xing, Chairman of Wencheng County Transportation
Development Group Co., Ltd., said, "EHang is a leading company in
China's emerging low-altitude economy industry, and their EH216-S
aircraft has already obtained the airworthiness certifications,
putting them at the forefront of the industry. Together with EHang,
we will seize the opportunities in the industry, actively explore
and demonstrate a wide range of low-altitude applications,
establish aerial sightseeing tourism routes, cultivate a thriving
ecosystem of low-altitude economy service enterprises, and
strengthen the recruitment and training of specialized talent. By
expanding the use of low-altitude technologies in public service
domains, we aim to drive the clustering and accelerated development
of the low-altitude industry here in Wencheng."
Mr. Huazhi Hu, Founder, Chairman and CEO of EHang, stated,
"EHang is continuously expanding low-altitude use cases globally,
striving to advance the commercial deployment of passenger-carrying
pilotless eVTOL aircrafts. In collaboration with Wencheng County
Transportation Development Group Co., Ltd., we share a goal to
develop various pilotless low-altitude use cases, promote the
establishment of a low-altitude operation benchmark in Zhejiang,
and create a competitive advantage for the low-altitude economy in
the East China region."
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’s EH216-S has obtained the world’s
first type certificate, production certificate and standard
airworthiness certificate for passenger-carrying pilotless eVTOL
aircraft issued by the Civil Aviation Administration of China. 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,”
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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
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actual results, performance or achievements to differ materially
from any future results, performance or achievements expressed or
implied by these forward-looking statements.
Investor Contact: ir@ehang.com
Media Contact: pr@ehang.com
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