On November 14, ehang (EH.US) announced that it has secured a strategic investment totaling over 22 million dollars. The investors include zhuhai enpower electric (300681.SZ), a leading supplier of new energy vehicle power systems in china, as well as an investment institution from the Middle East. Both investors agreed to a lock-in period of 180 days.
According to Zhitong Finance APP, on November 14, ehang (EH.US) announced that it has secured a strategic investment totaling over 22 million dollars. The investors include zhuhai enpower electric (300681.SZ), a leading supplier of new energy vehicle power systems in china, as well as an investment institution from the Middle East. Both investors agreed to a lock-in period of 180 days.
The strategic investment from zhuhai enpower electric is based on its recently announced long-term strategic cooperation and technology development collaboration with ehang, aimed at jointly developing high-performance electric drive systems suitable for ehang's series of electric vertical take-off and landing aircraft.
In addition, the strategic investment from investors in the UAE reflects their optimistic attitude toward the emerging low-altitude economy industry in china, as well as their confidence in ehang's growth potential as a global leader in eVTOL. The UAE is one of ehang's largest international markets, where 100 intent-to-purchase orders have been secured locally, with 5 already delivered. This investor will leverage its extensive financial and commercial network to assist ehang in its international expansion in other countries in the Middle East and Southeast Asia.
Following this round of strategic investment, ehang has accumulated nearly 0.1 billion dollars in financing this year to date, enhancing the company's financial position and supporting its next phase of development and growth in the global urban air mobility industry. The funding will be used to advance the research and development of the company's next-generation eVTOL technology and products, expand production, grow the team, establish a new headquarters and operational site, and support general corporate activities.
Mr. Yang Jiahong, the chief financial officer of ehang, expressed his pleasure in announcing this round of strategic investment, which demonstrates investors' confidence in ehang's vision, strength, and industry leadership. This will help the company seize the enormous UAM market opportunity and accelerate its development pace. Furthermore, the support from this round of strategic investors in the upstream industry chain and the expansion of downstream international markets will help the company enhance its competitive advantage. The company will continue to push the boundaries of innovation, safety, and sustainable development, committed to making urban air mobility accessible to the global public.