EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the
world’s leading autonomous aerial vehicle (“AAV”) technology
platform company, announced that today it has signed a Memorandum
of Understanding (“MOU”) with the Bao’an District Government of
Shenzhen municipality on a comprehensive strategic partnership in
urban air mobility (“UAM”) for commercial operations of EH216-S
AAVs following the completion of the EH216-S type certification.
Bao’an District and EHang will jointly develop UAM use cases,
systems and routes to build Shenzhen as a national low-altitude
economy development demonstration city. Leveraging the high-quality
resources of Bao’an District, EHang plans to establish the
Company’s first UAM Operation Demonstration Center at the OH Bay,
an urban landmark in Shenzhen, and to launch aerial tourism and
sightseeing experience services with EH216-S AAVs.
(EHang signs a MOU with the Bao’an District
Government of Shenzhen municipality)
Under this strategic partnership, the Bao’an District Government
will provide comprehensive support for EH216-S AAV procurement,
financial leasing, infrastructure construction, and low-altitude
operations in the area. Based on that, EHang plans to establish an
EH216-S AAV Assembly and Delivery Center, a Research and
Development Testing Center, as well as a Maintenance Support Center
in Bao’an District in the future to ensure local UAM operational
services.
At today’s 2023 Bao’an District Low-Altitude Economy Investment
Promotion Conference, the Bao’an District Government officially
issued its low-altitude economy development plan.
(EH216-S AAV conducts demo flight at 2023 Bao’an
District Low-Altitude Economy Investment Promotion Conference in
Shenzhen)
Since the beginning of this year, Shenzhen municipality has
continued to strengthen its support for the low-altitude economy
industry. Shenzhen’s 2023 Government Work Report proposed to
establish a Low-Altitude Economy Center and a Civil Unmanned Aerial
Vehicle Demonstration Zone, and put the Regulations on Promotion of
Shenzhen Special Economic Zone Low-Altitude Economy Industry as its
key legislative project. Bao’an District is a core aviation
industrial hub in Shenzhen, with a robust manufacturing foundation
and well-established supply chain that possesses strong advantages
for the development of the low-altitude economy. The OH Bay, a
Shenzhen’s landmark located in the center of Bao’an District, has a
prosperous and developed cultural and tourism industry, which will
provide a broad market prospect for EH216-S AAVs to be the first
eVTOL aircraft to launch and operate in this area.
Ms. Meng Jinjin, Executive Deputy District Mayor of Bao’an
District, expressed, “Bao’an District has been committed to
providing a favorable market environment and policy framework for
enterprises in the low-altitude economy industry and highly values
the innovative development of the new aviation industry. EHang, as
a global leader in the UAM industry, boasts extensive experience in
the research, development, production, and operations of
passenger-carrying AAVs. Starting with the UAM Operation
Demonstration Center at the OH Bay, we aspire to further
collaborate with EHang to carry out various UAM projects in Bao’an
District, with a goal to develop more than 10 routes within this
year. We believe our partnership with EHang will drive the
prosperity of the low-altitude economy in Bao’an District and bring
a more convenient and efficient way of life to Shenzhen for a
prosperous blueprint for the low-altitude economy.”
(Ms. Meng Jinjin, Executive Deputy District Mayor
of Bao’an District, delivers a speech at the 2023 Bao’an District
Low-Altitude Economy Investment Promotion Conference.)
Mr. Xin Fang, Chief Operating Officer of EHang, stated,
“Shenzhen is a city full of innovative vitality and possesses a
strong foundation in intelligent manufacturing with expansive
market demands for the development of the low-altitude economy,
which the city is currently vigorously promoting. As a global
leader in the AAV industry, we are delighted to collaborate with
the Bao’an District Government of Shenzhen municipality to jointly
explore UAM operations. We look forward to contributing EHang’s
expertise to establishing a low-altitude service ecosystem by
advancing the sales, uses, and maintenance of EH216-S AAVs to
ultimately nurture high-quality development of the low-altitude
economy in Shenzhen and the Guangdong-Hong Kong-Macao Greater Bay
Area.”
(Mr. Xin Fang, Chief Operating Officer of EHang,
introduces EH216-S to Mr. Shourui Wang, Secretary of Bao’an
District Committee)
video: https://youtu.be/xCawWqZ917Y
About EHang
EHang (Nasdaq: EH) is the world’s leading autonomous aerial
vehicle (“AAV”) technology platform company. EHang’s mission is to
make safe, autonomous, and eco-friendly air mobility accessible to
everyone. EHang provides customers in various industries with AAV
products and commercial solutions: urban air mobility (including
passenger transportation and logistics), smart city management, and
aerial media solutions. As the forerunner of cutting-edge AAV
technologies and commercial solutions in the global Urban Air
Mobility (“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 EH216-S type certification, our expectations regarding
demand for, and market acceptance of, our AAV 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/8593abb5-b3ac-4d66-a6ba-49a0f90eb852
https://www.globenewswire.com/NewsRoom/AttachmentNg/cdeec61a-c15c-4091-a31a-a97bd7528c11
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b163d97-ef53-4eaa-b2f4-9252303bba67
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