EHang 216's Korean Flight Tour: The First Step Toward Future UAM Operations

Rhea-AI Summary

EHang Holdings Limited (Nasdaq: EH) has successfully completed its maiden flights of the EHang 216 passenger-grade AAV in three Korean cities: Seoul, Daegu, and Jeju Island. These flights, part of a broader initiative to explore the Urban Air Mobility (UAM) market in Korea, demonstrate EHang's capabilities in passenger transport and emergency services. The flights received the first Special Certificate of Airworthiness from Korea's MOLIT, marking a significant milestone in UAM operations. EHang aims to collaborate with local partners for future smart city transformations and UAM initiatives.

Positive

• Successful completion of EHang 216 maiden flights in Korea enhances market credibility.
• First Special Certificate of Airworthiness for passenger-grade AAV issued by MOLIT.
• Opportunities for future partnerships in UAM operations with local governments.

Negative

• None.

GUANGZHOU, China, Nov. 24, 2020 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world's leading autonomous aerial vehicle (“AAV”) technology platform company announced that its two-seater passenger-grade AAV, EHang 216 has completed its maiden flights in three Korean locations - Seoul, Daegu, and Jeju Island. This flight tour signifies the starting point to explore the UAM market in Korea.

During the flight tour, EHang brought the world's leading UAM solution to Korea, including passenger transportation, emergency medical service and aerial sightseeing. In Soeul, EHang 216 took off from Yeouido Island in downtown to have an autonomous flight over a densely populated area. The second flight was done in Suseong District, Daegu City, to deliver a package containing a 119 fire emergency kit and AED materials. The last flight was done in Jeju Island, EHang 216 flew over the coastline to demonstrate the real use case of aerial sightseeing.

The Korean flight tour was completed after obtaining the first SAC (Special Certificate of Airworthiness) issued for a passenger-grade AAV by MOLIT. Respectively, the three flights demonstrated the practical use cases of EHang's UAM solutions in different scenarios. Successful completion of the maiden flight tour may lead to opportunities for future cooperation between EHang and its Korean partners in potential UAM operations. EHang will work with its partners in potential smart city transformations with its leading AAV technologies.

Seoul, Daegu, and Jeju Island were all selected as pilot site of the “Korean Urban Air Mobility (K-UAM) Roadmap”. The project was announced by the MOLIT (“Ministry of Land, Infrastructure, and Transport”) in June 2020, with the aim to commercialize UAM services by 2023-2025.

The Acting Mayor of Seoul, Seo Jeong-hyup announced that the city government will strive to ensure that the human dream of safely flying can become reality for Seoul citizens, which will support the future industry of Korea.

Located in the central urban area of Daegu city, Suseong District plans to launch more aerial routes in stages, based on the EHang 216 flight and promote the industrialization process of Urban Air Mobility (UAM). "To tackle the traffic congestion, we will try our best to develop UAM and turn it into a new engine for our economic development," said Kim Dae-Gweon, mayor of Suseong District in Daegu city.

Won Hee-Ryong, the Jeju Special Self-Governing Province said, "To further promote UAM development, Jeju Island is considering various measures, including the set-up of special funds and policies, fostering talents and supporting relevant enterprises."

With the support of MOLIT and the local governments, the success of the first phase of EHang's UAM Operation Plan for Korea set another milestone in the company’s global UAM development, and further demonstrated the safety and reliability of EHang’s AAV technology. The Korean flight tour lays a solid foundation for future business expansion in Korea with potential acceleration to its UAM operations. EHang will join hand with all parties to accelerate development of UAM.

To watch the video of EHang 216’s Korea flight tour, please visit: https://youtu.be/0_Qr8ct4QAY.

About EHang
EHang (Nasdaq: EH) is the world's leading autonomous aerial vehicle (AAV) technology platform company. Our 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: 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. 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  
In the U.S.: Julia@blueshirtgroup.com
In China: Susie@blueshirtgroup.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/1a5c8a84-2a26-498d-bd48-974019c994ff
https://www.globenewswire.com/NewsRoom/AttachmentNg/cd266168-01c7-40b7-bd7a-e96f1af6084d
https://www.globenewswire.com/NewsRoom/AttachmentNg/b34fab00-d9e7-4ba9-acad-067a3af33285
https://www.globenewswire.com/NewsRoom/AttachmentNg/686967d4-c449-46ac-ac51-bebf04dab047 

FAQ

What were the key locations for EHang's maiden flights in Korea?

EHang's maiden flights took place in Seoul, Daegu, and Jeju Island.

What is the significance of the Special Certificate of Airworthiness for EHang?

It marks the first issuance for a passenger-grade AAV in Korea, validating EHang's technology and safety standards.

What services did EHang demonstrate during its Korean flight tour?

EHang showcased passenger transportation, emergency medical services, and aerial sightseeing.

What is EHang's goal in the Korean UAM market?

EHang aims to collaborate with Korean partners for smart city developments and UAM operations.