EHang and C.P. Group Form Strategic Partnership to Introduce Autonomous Aerial Vehicles to Thailand for Urban Air Mobility

Rhea-AI Summary

EHang Holdings Limited (Nasdaq: EH) has formed a strategic partnership with Charoen Pokphand Group Co., Ltd. to establish a joint venture in Thailand focusing on autonomous aerial vehicle (AAV) sales and urban air mobility (UAM) operations. The collaboration aims to leverage both companies' strengths in AAV product sales, regulatory compliance, and infrastructure development. This partnership is expected to unlock the potential of UAM solutions across various industries, driving sustainability and innovation in Thailand's technology sector.

Positive

• Establishment of a strategic partnership with Charoen Pokphand Group for UAM operations in Thailand.
• Potential for cross-sector cooperation enhancing EHang's market presence in Southeast Asia.
• Opportunity to leverage C.P. Group's extensive business strengths for AAV and UAM development.

Negative

• None.

GUANGZHOU, China, May 27, 2022 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world’s leading autonomous aerial vehicle (“AAV”) technology platform company, announced it has formed a strategic partnership with Charoen Pokphand Group Co., Ltd. (“C.P. Group”), one of the largest conglomerates in Thailand, with an intent to establish a joint venture in Thailand for AAV sales and urban air mobility (“UAM”) operations.

The two parties intend to fully leverage their respective expertise and resources in a long-term comprehensive collaboration on AAV product sales and marketing, regulatory compliance, business development, infrastructure deployment, talent cultivation, and so on, for future UAM operations and introduce the safe, autonomous and sustainable air mobility technology and solutions to Thailand as well as more overseas markets. The parties expect that their strategic collaboration will unleash UAM solutions’ value-creating potential across multiple industries.

As a leading tech and innovative multinational conglomerate based in Thailand with investments in 21 countries and economies, C.P. Group is comprised of eight business lines and 14 business groups, covering various sectors of agriculture-industry and food, retail and distribution, media and telecommunications, e-commerce and digital, property development, automotive and industrial products, pharmaceuticals, etc. The partnership opens up cross-sector cooperation opportunities for C.P. Group and EHang and sets up a solid foundation for potential use cases for EHang AAVs in various scenarios such as in aerial sightseeing, cargo transportation, last-mile delivery, city air taxi, smart city management, etc. in Thailand and beyond.

Jiraporn Sudanich, Consul-General of the Royal Thai Consulate-General in Guangzhou, attended the signing ceremony of the strategic partnership and noted, “EHang’s innovative technologies are of great significance, which can be applied to various fields including tourism, logistics, healthcare, disaster mitigation and agriculture, etc. I believe that the cooperation between EHang and C.P. Group will enrich the industrial chain of robotic technology in Thailand, and I also expect to see EHang bring new vitality to the development of Thailand’s technology industry in the future.”

“By joining hands with EHang, a global pioneer in the autonomous eVTOL industry, we’ve made a step further toward our commitment to driving our businesses, society, and the environment closer to sustainability and exploring a new zero-carbon air mobility mode for the community,” said Thanakorn Seriburi, Senior Vice Chairman of C.P. Group. “Through leveraging EHang’s unique AAV technologies and efficient and eco-friendly UAM solutions for different industries, I believe our partnership will further create synergies among C.P. Group’s industrial, aviation, smart city, food, retail, pharmaceutical and other business lines, and will unlock opportunities on a diversified UAM ecosystem and facilitate the development of smart cities in Thailand.”

Huazhi Hu, EHang Founder, Chairman and CEO, commented, “We are thrilled to partner with C.P. Group to introduce EHang AAVs to Thailand, one of the largest Southeast Asian markets with great potentials for UAM operations. We will work with C.P. Group, who has a wealth of comprehensive business strengths in their local markets, on extensive and sustainable cooperation in various fields, to take the lead in bringing safe, autonomous and eco-friendly air mobility to Thai industries and society.”

As a world-leading AAV provider and UAM platform operator, EHang has recently been expanding its footprint to penetrate Asian markets with more customers and partners in Korea, Japan, Malaysia, Indonesia, and Thailand.

About C.P. Group

Founded in Bangkok, Thailand in 1921, C.P. Group is a global well-known multinational company operating across many industries ranging from traditional backbone industries such as agriculture to technology–driven forefront industries such as e-commerce/digital, which are categorized into 8 Business Lines covering 14 Business Groups. Currently, C.P. Group has investments in 21 countries and regions with more than 450,000 employees worldwide. For more information, please visit www.cpgroupglobal.com.

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  

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/ff95a1e3-3545-4037-9e88-a9357ca422e7

https://www.globenewswire.com/NewsRoom/AttachmentNg/77972547-d729-4463-9dc1-530c73d2adae 

FAQ

What is the recent partnership between EHang and C.P. Group about?

EHang has formed a strategic partnership with C.P. Group to establish a joint venture in Thailand for autonomous aerial vehicle (AAV) sales and urban air mobility (UAM) operations.

How will the partnership impact EHang Holdings (EH)?

The partnership is expected to enhance EHang's presence in Southeast Asia and unlock opportunities for UAM solutions across various industries, positively impacting its market reach.

When was the partnership between EHang and C.P. Group announced?

The partnership was announced on May 27, 2022.

What industries might benefit from the EHang and C.P. Group partnership?

Industries such as tourism, logistics, healthcare, and agriculture may benefit from the technologies and solutions introduced through this partnership.

What are EHang's goals in this partnership?

EHang aims to introduce safe, autonomous, and eco-friendly air mobility solutions to Thailand and other overseas markets through this partnership.