EHang's EH216-S completed its first flight in Shanghai, showcasing urban air mobility potential and preparing for commercial operations.
Quiver AI Summary
EHang Holdings Limited announced the successful inaugural demo flight of its pilotless passenger-carrying aerial vehicle, the EH216-S, in downtown Shanghai. This flight marks a significant step in demonstrating the capabilities of urban air mobility (UAM) technology, focusing on convenience, safety, and environmental benefits, with plans for regular trial operations along the Huangpu River and commercial operations to follow. The debut at Longhua Airport, the only airport in downtown Shanghai suitable for such activities, is key to the development of various low-altitude economy applications including aerial mobility and tourism. EHang is collaborating with Shanghai Hynfar Aviation to expand eVTOL operations throughout the Yangtze River Delta region, as part of a broader initiative to position Shanghai as a leader in the low-altitude economy, targeting over 100 commercial flight applications by 2027.
Potential Positives
- Successful completion of the inaugural demo flight of the EH216-S pilotless passenger-carrying aerial vehicle in downtown Shanghai, showcasing its capabilities in a metropolitan environment.
- Official launch of regular trial operations for eVTOL sightseeing routes, indicating a step towards commercial operations in a major urban market.
- Collaboration with Hynfar Aviation and support from governmental initiatives positions EHang strategically within the growing low-altitude economy in the Yangtze River Delta region.
- Recognition as the world’s first eVTOL to obtain type, production, and airworthiness certifications from the CAAC, enhancing EHang's reputation as a leader in urban air mobility technology.
Potential Negatives
- Despite the positive tone of the press release, it includes a disclaimer regarding forward-looking statements, indicating that actual results may differ materially from any predictions about the company’s future operations and commercialization efforts.
- The focus on collaborating with Hynfar Aviation and the New Margin Eastwood Fund may suggest a reliance on strategic partnerships rather than solely on the company's capabilities, which could raise concerns about the sustainability of its operations.
- The ambitious Action Plan for Shanghai's low-altitude economy raises expectations that may place pressure on EHang to deliver on its commitments within a tight timeframe, potentially leading to operational challenges or failure to meet regulatory or market expectations.
FAQ
What is the significance of the EH216-S debut flight in Shanghai?
The EH216-S debut flight marks a milestone in urban air mobility, showcasing eVTOL capabilities for future commercial operations in mega cities.
How does EHang's EH216-S improve urban air mobility?
The EH216-S enhances urban air mobility through pilotless operation, improved safety, and eco-friendly transport solutions for city environments.
What areas will benefit from EHang's eVTOL operations?
EHang's eVTOL operations aim to benefit the Yangtze River Delta region, including passenger transport, aerial tourism, and logistics services.
When are commercial operations expected to begin for the EH216-S?
Regular commercial operations for the EH216-S eVTOL are being prepared following successful trial flights, with a focus on urban taxi services.
What role does Longhua Airport play in EHang's eVTOL operations?
Longhua Airport serves as a key operational base for eVTOL flights, facilitating various low-altitude economy activities, including passenger transport and tourism.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EH Hedge Fund Activity
We have seen 29 institutional investors add shares of $EH stock to their portfolio, and 31 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CARMIGNAC GESTION removed 660,148 shares (-35.0%) from their portfolio in Q3 2024, for an estimated $9,334,492
- MILLENNIUM MANAGEMENT LLC added 573,566 shares (+500.0%) to their portfolio in Q3 2024, for an estimated $8,110,223
- WALLEYE TRADING LLC removed 258,368 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $3,653,323
- NOMURA HOLDINGS INC added 176,341 shares (+221.8%) to their portfolio in Q3 2024, for an estimated $2,493,461
- MORGAN STANLEY added 161,496 shares (+158.0%) to their portfolio in Q3 2024, for an estimated $2,283,553
- CITADEL ADVISORS LLC removed 126,156 shares (-56.9%) from their portfolio in Q3 2024, for an estimated $1,783,845
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 99,984 shares (-57.3%) from their portfolio in Q3 2024, for an estimated $1,413,773
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
GUANGZHOU, China, Jan. 16, 2025 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced that its flagship pilotless passenger-carrying aerial vehicle EH216-S completed its inaugural demo flight in downtown Shanghai. It served as an excellent backdrop to demonstrate the exceptional capabilities in convenience, safety, and eco-friendliness within the operational environment of UAM in metropolises. It has also officially launched the regular trial operation of the eVTOL sightseeing routes by the Huangpu River at Longhua Airport in Shanghai, in preparation for the following commercial operations in Shanghai. This move aims to realize the urban air mobility in mega central cities.
Image: EH216-S Pilotless eVTOL Completes Debut Flight in Shanghai
Longhua Airport is regarded as the only airport in Shanghai downtown area with apron airspace and is home to the East China General Aviation Service Center of the Civil Aviation Administration of China (“CAAC”). As an important base for the high-quality development of Shanghai's low-altitude economy, Longhua Airport offers ideal conditions for various low-altitude economic activities, including aerial mobility, tourism and sightseeing, emergency rescue and logistics. This flight not only showcased EH216-S’s capabilities for commercial applications in urban sightseeing and travel scenarios, but also laid a solid foundation for its future gradual implementation and realization of regular commercial operations of urban air taxis in the Yangtze River Delta region centered around Shanghai.
Image: EH216-S eVTOL operation center at Longhua Airport in Shanghai
The EH216-S for this debut flight is one of the aircraft products that EHang has delivered to its customer Shanghai Hynfar Aviation Co., Ltd. (“Hynfar Aviation”). Hynfar Aviation is the pioneering company in Shanghai focusing on eVTOL operations and an eVTOL operation partner of Longhua Airport. Going forward, EHang and Hynfar Aviation, and New Margin Eastwood Fund, will take Longhua Airport as the base, to develop a variety of low-altitude economy eVTOL operational scenarios such as passenger transportation and urban sightseeing in the entire area of Shanghai and further covering cities and regions along the Yangtze River Delta G60 Science and Innovation Corridor (including nine cities across Shanghai, Jiangsu, Zhejiang, and Anhui provinces). This collaboration aims to promote more cities to realize new models of air taxi transportation.
Image: Numerous guests observed the debut flight of EH216-S in the city center of Shanghai
The Action Plan for High-Quality Development of Shanghai Low-Altitude Economy Industry (2024–2027) aims to position Shanghai as a leading hub for innovation, commercial applications, and operational services in the low-altitude economy, with the core industry scale expected to exceed RMB50 billion by 2027, creating an internationally influential “City in the Sky.” The Plan specifically mentions the goal of achieving more than 100 low-altitude flight service applications in commercial scenarios such as logistics transportation, emergency rescue, cultural tourism, smart cities, and passenger transportation by 2027. It also promotes pilot projects for commercial passenger transport across and between major transportation hubs, such as Hongqiao International Airport, Pudong International Airport, and Longhua Airport, in addition to five new intra-city stops within Shanghai. This provides clear policy guidance and vast development opportunities for the low-altitude economy’s growth.
Mr. Zhao Wang, EHang’s Chief Operating Officer, stated: “As the world’s first pilotless passenger-carrying eVTOL that has obtained the Type Certificate, Production Certificate, and Standard Airworthiness Certificate from the CAAC, EH216-S’s successful debut flight in Shanghai has a great demonstration importance, signifying that large central cities in China are on the verge of entering the era of urban air taxi flight scenarios. With metropolises gradually advancing the development and operations of the low-altitude economy, EHang’s pilotless passenger-carrying eVTOLs are poised to become a key driver in UAM transformation. Looking ahead, we will fully leverage our first-mover advantage as the world’s first certified eVTOL company and join hands with Hynfar Aviation, which has been deeply rooted in the civil aviation field for many years, and combine the all-encompassing layout and rich cultural and tourism resources of the New Margin Eastwood Fund in the low-altitude economic sector, to actively promote market-oriented, EH216-S commercial operations in Shanghai and the Yangtze River Delta region. Together, we will explore the diversified application scenarios within the low-altitude economy and jointly build a smarter and more efficient UAM ecosystem, making air taxi rides a part of consumers' daily travel routines.”
About EHang
EHang (Nasdaq: EH) is the world’s leading urban air mobility (“UAM”) technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle (“UAV”) systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang’s flagship product EH216-S has obtained the world’s first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global 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 certifications, our expectations regarding demand for, and market acceptance of, our 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:
[email protected]
Investor Contact:
[email protected]
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/18539423-3a9e-4a2d-909d-220add6802d4
https://www.globenewswire.com/NewsRoom/AttachmentNg/20c3bcc1-4ee5-422b-95c9-a20d1065639d
https://www.globenewswire.com/NewsRoom/AttachmentNg/029b32ed-4385-45a9-8e6f-b672fcbed5f5
https://www.globenewswire.com/NewsRoom/AttachmentNg/922b6ba0-f5f2-4c59-abd5-f21c28273057