Chinese urban air mobility company receives US$22 million investment

EHang, the Guangzhou-based urban air mobility (UAM) technology platform company, announced a total of over US$22 million strategic investment from Zhuhai Enpower Electric, a Chinese new energy vehicle power systems provider, and a strategic institutional investor from the United Arab Emirates (UAE).

The strategic investment in EHang boost the development of urban air mobility.

The strategic investment from Enpower is based on its recently announced long-term strategic partnership and technology development cooperation with EHang, aimed at co-developing high-performance electric motor drive systems for EHang’s suite of electric vertical take-off and landing (eVTOL) aircraft.

The UAE represents one of EHang’s largest international markets with an intentional order book of 100 units with five units delivered. This investor will utilize their extensive financial and business network to assist in EHang’s international expansion in other countries in the Middle East as well as in Southeast Asia.

This strategic investment brings EHang’s total year-to-date financing to nearly US$100 million, enhancing the company’s financial position as it embarks on its next phase of development and growth in the global UAM industry.

The financing proceeds will bolster EHang’s efforts to advance the company’s next-generation eVTOL technologies and products, scale production capacity, expand its team, establish new headquarters and operation sites, and support general corporate activities.

“We will continue to push the boundaries of innovation, safety, and sustainability, and work towards making UAM a reality for people around the world,” said Conor Yang, Chief Financial Officer of EHang.