EHang to Expand Production Facility for Autonomous Aerial Vehicles

Rhea-AI Summary

EHang Holdings Limited (Nasdaq: EH) announced plans to build a new autonomous aerial vehicle (AAV) production facility in Yunfu, China with an initial capacity of 600 units annually. The local government is investing approximately US$6 million to support this initiative. The facility will serve as a production center, research and development hub for air mobility solutions, and a training center for talent. EHang's expansion aims to meet rising market demand and enhance its manufacturing capabilities in the air mobility sector.

Positive

• New AAV production facility in Yunfu with an initial capacity of 600 units per year.
• Local government investment of RMB42 million (approx. US$6 million) to support facility establishment.
• Development of an R&D center focused on air mobility solutions.

Negative

• None.

YUNFU, China, July 30, 2020 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world's leading autonomous aerial vehicle (“AAV”) technology platform company, today announced that it will build a new AAV production facility in Yunfu city in Guangdong, China with a planned initial annual capacity of 600 units. Meanwhile, local government will invest RMB42 million (approx. US$6 million) in the facility. The EHang Yunfu facility is aimed to be established as an industry-leading AAV production center, including an R&D facility for air mobility solutions and a training center for operations and technical talents.

The Deputy Mayor of Yunfu city, Donghong Shi attended the launch ceremony and commented that the Yunfu city government welcomes and fully supports the world’s leading high-tech company EHang to establish its new production facility for the cutting-edge AAV products in Yunfu. It is also expected that Ehang will bring strong vitality to the local high tech communities and create hundreds of new jobs for local talents.

EHang Founder, Chairman and CEO, Huazhi Hu said, “The increasing market demands and commercialization of AAVs are driving us to expand our production and upgrade our manufacturing capabilities. The EHang Yunfu facility serves as an expansion of our existing facility and will support the growth of our air mobility business.”

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.cn@ehang.com

Investor Contact:
ir@ehang.com 
In the U.S.: Julia@blueshirtgroup.com
In China: Susie@blueshirtgroup.com

FAQ

What is EHang's new production facility in Yunfu expected to achieve?

EHang's new facility in Yunfu aims to produce 600 AAV units annually and support R&D and training.

How much is the local government investing in EHang's new facility?

The local government is investing approximately RMB42 million (around US$6 million) in the facility.

What market demand is driving EHang's expansion?

EHang's expansion is driven by increasing market demands and the commercialization of AAVs.

What role will the Yunfu facility play in EHang's business?

The Yunfu facility will enhance EHang's manufacturing capabilities and support air mobility business growth.

What are the expected job opportunities from the EHang facility in Yunfu?

The EHang facility is expected to create hundreds of new jobs for local talent.