EHang Receives Pre-Order for 100 Units of EH216 AAVs from Indonesian Aviation Company Prestige Aviation

Rhea-AI Summary

EHang Holdings Limited (Nasdaq: EH) announced a significant pre-order of 100 units of its EH216 autonomous aerial vehicles (AAVs) from Prestige Aviation during the Indonesia International Motor Show 2022. This marks the largest pre-order for passenger-grade AAVs in Asia to date. The collaboration aims to enhance Urban Air Mobility (UAM) in Indonesia, supporting the country's Smart City initiative. EHang's CEO expressed gratitude for the partnership and highlighted ambitions to further develop UAM solutions in the Asia Pacific region.

Positive

• Received a pre-order for 100 EH216 AAVs, the largest in Asia to date.
• Strengthened collaboration with Prestige Aviation for Urban Air Mobility in Indonesia.
• Supports Indonesia's Smart City initiative and facilitates inter-island transportation.

Negative

• None.

GUANGZHOU, China, April 11, 2022 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world's leading autonomous aerial vehicle (“AAV”) technology platform company, announced that EHang has received a pre-order for 100 units of EH216 AAVs from Prestige Aviation, an Indonesian aviation company and a subsidiary of Prestige Corp., at the online contract signing ceremony during the Indonesia International Motor Show 2022 (“IIMS 2022”) on April 9, 2022. It’s the largest pre-order EHang has received so far for its passenger-grade AAVs in Asia. Prestige Aviation previously purchased one unit of EH216 from EHang, and the two parties jointly conducted a debut flight demonstration for aerial sightseeing in Bali, Indonesia in 2021.

Bambang Soesatyo, Chairman of the People’s Consultative Assembly Republic Indonesia, attended the signing ceremony at IIMS 2022 and said, “I am pleased to witness further reinforcement of collaboration between Prestige and EHang as well as their joint efforts to promote a broader application of solutions to Urban Air Mobility (“UAM”) to the Indonesian market. Coming next, we hope to explore more possibilities to facilitate the implementation of UAM in Indonesia, and to seek breakthroughs in infrastructure, airworthiness certification, and other related fields.”

Rudy Salim, Executive Chairman of Prestige Aviation, said, “EHang has long been a crucial partner to Prestige Aviation. As a forerunner of Indonesia’s sustainable transportation, we hope that we can address the Indonesian public’s need for aerial transportation and therefore, we are ready to support the Indonesian new capital Nusantara’s Smart City initiative with EH216 AAVs. Indonesia is an archipelagic country with more than 17,000 islands within its borders. Therefore, a new transportation mode that can facilitate inter-island mobility will undoubtedly help regional economies to grow exponentially, assisted by its low cost when compared to other conventional land routes. We will join hands with EHang to bring safe, efficient, economical and eco-friendly transport solutions to facilitate inter-island mobility and many other scenarios in Indonesia.”

Hu Huazhi, Founder, Chairman and CEO of EHang, attended the online ceremony and commented, “We sincerely appreciate all the support and recognition of Prestige Aviation and our expanding network of partners, which inspire EHang to further expand our global market. We will continue our in-depth collaboration with Prestige Aviation on UAM in Indonesia. We believe that, as the Regional Comprehensive Economic Partnership (“RCEP”) brings favorable policies to international cooperation, we will further accelerate the development of UAM in Asia Pacific region with the aim to benefit the people with cutting-edge AAV technologies.”

About Prestige Aviation
Prestige Aviation is a company that specializes in the aviation industry and operates under the supervision of its parent company, Prestige Corp. Prestige Aviation provides aviation services that includes the sale and acquisition of aerial vehicles and private jet lease.

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/0f6f34e3-5fe0-4ed5-aabe-0c66bb614af7

https://www.globenewswire.com/NewsRoom/AttachmentNg/5064941f-8a99-46b4-8a5d-bb31f25e5bcf

https://www.globenewswire.com/NewsRoom/AttachmentNg/33704b2c-6b7e-430b-b822-c157742fdd5c

https://www.globenewswire.com/NewsRoom/AttachmentNg/3cd75cc8-2666-4475-970d-7d1e45dca113

FAQ

What is the significance of EHang's pre-order of 100 AAVs from Prestige Aviation?

The pre-order represents EHang's largest order for passenger-grade autonomous aerial vehicles in Asia, emphasizing its market position and growth potential.

When was the pre-order for EHang's AAVs announced?

The pre-order was announced on April 11, 2022, following an online signing ceremony during the Indonesia International Motor Show.

What are the plans for urban air mobility in Indonesia involving EHang?

The collaboration aims to promote urban air mobility by facilitating inter-island transportation and supporting Indonesia's Smart City initiatives.

What is the stock symbol for EHang?

EHang is traded under the stock symbol EH on Nasdaq.