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GUANGZHOU - EHang Holdings Limited (NASDAQ:EH), a global leader in Urban Air Mobility (UAM) technology with a market capitalization of $1.49 billion, has entered into a strategic cooperation with Anhui Jianghuai Automobile Group Co., Ltd. (JAC Motors) and Hefei Guoxian Holdings Co., Ltd. The partnership, announced Monday, aims to establish a joint venture in Hefei to construct an advanced manufacturing base for electric vertical takeoff and landing (eVTOL) aircraft. According to InvestingPro data, EHang has demonstrated impressive revenue growth of over 355% in the last twelve months, positioning it strongly for this expansion.
The agreement was signed in a ceremony attended by high-ranking officials and corporate leaders, marking a milestone for China’s low-altitude economy ecosystem. The joint venture will focus on research and development, manufacturing, and sales of eVTOLs, with the goal of integrating Hefei’s new energy vehicle industrial chain with aircraft manufacturing technology. EHang brings strong operational efficiency to this venture, with InvestingPro data showing an impressive gross profit margin of 62.24%, suggesting robust manufacturing capabilities. For detailed insights into EHang’s financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
JAC Motors, recognized among China’s top 100 industrial enterprises, will apply its automotive manufacturing expertise to scale up eVTOL production. EHang will contribute its advanced R&D and production technologies in the eVTOL sector, along with its experience in airworthiness certification and operations. Guoxian Holdings will offer policy support and help create a conducive development environment.
The collaboration is set to foster the growth of China’s low-altitude economy and a new multi-dimensional transportation ecosystem. The partners will jointly explore automated production technologies for low-altitude aircraft, aiming to optimize design and production processes through resource integration.
EHang’s previous agreement with the Hefei municipal government in October 2023 led to the development of two UAM eVTOL operation centers. This new venture with JAC Motors and Guoxian Holdings is expected to meet the increasing market demand for pilotless aircraft and support the large-scale deployment of eVTOLs upon commercial operation.
Fei Yuan, Vice Mayor of Hefei, expressed strong support for the partnership, highlighting Hefei’s role in the national development of the low-altitude economy. Xingchu Xiang, Chairman and General Manager of JAC Motors, and Huazhi Hu, Founder, Chairman, and CEO of EHang, both conveyed their commitment to advancing the low-altitude air mobility ecosystem and enhancing intelligent manufacturing in Hefei.
This announcement is based on a press release statement and presents the strategic cooperation as a significant step towards realizing the potential of low-altitude aviation and intelligent transportation systems. With analysts forecasting profitability this year and the stock showing strong momentum with a 127% return over the past year, EHang appears well-positioned for this expansion. InvestingPro subscribers can access 12+ additional exclusive tips and comprehensive financial metrics to better evaluate this investment opportunity.
In other recent news, EHang Holdings Limited has announced a strategic partnership with China Communications Information & Technology Group Co., Ltd. The collaboration aims to develop digital infrastructure and transportation hubs to enhance the low-altitude economy and advance the air mobility ecosystem. EHang and CCIT plan to work with local governments in China to establish flight data centers and integrated flight take-off and landing platforms. This initiative includes constructing 100 intra-city and inter-city air traffic terminals and 100 low-altitude tourism terminals over the next three years. Additionally, EHang has secured a deal for pilotless eVTOLs in China through a partnership with the Management Committee of the Torch High-Tech Industrial Development Zone of Weihai City, Shandong Province. EHang has received full payment for an initial order of 30 units of its EH216-S pilotless passenger eVTOLs. The partnership will also focus on developing a low-altitude economy industrial park and offering low-altitude tourism services at notable tourist sites. EHang’s Chief Operating Officer, Zhao Wang, emphasized the demand for EH216 series products and expressed confidence in implementing EHang’s urban air mobility solutions in Weihai.
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