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EHang Holdings (Nasdaq: EH) has announced a strategic partnership with Changan Automobile to develop flying cars and eVTOL aircraft. The collaboration will focus on research, development, manufacturing, sales, and operation of flying car-related products. Changan Automobile plans to invest over 20 billion yuan in the low-altitude economy sector over the next five years, and more than 100 billion yuan over the next decade for integrated mobility solutions.
The partnership aims to combine EHang’s expertise in aerial vehicles and low-altitude flight management with Changan’s manufacturing capabilities and automotive market presence. The companies plan to establish a joint venture focused on future mobility ecosystem technologies, targeting the C-end customer base. According to CAAC data, China’s low-altitude economy exceeded 500 billion yuan in 2023 and is expected to reach 2 trillion yuan by 2030.
EHang Holdings (Nasdaq: EH) ha annunciato una partnership strategica con Changan Automobile per sviluppare auto volanti e aerei eVTOL. La collaborazione si concentrerà su ricerca, sviluppo, produzione, vendita e operazione di prodotti legati alle auto volanti. Changan Automobile prevede di investire oltre 20 miliardi di yuan nel settore dell’economia a bassa quota nei prossimi cinque anni, e oltre 100 miliardi di yuan nel prossimo decennio per soluzioni di mobilità integrate.
La partnership mira a combinare l’esperienza di EHang nei veicoli aerei e nella gestione del volo a bassa quota con le capacità di produzione di Changan e la sua presenza nel mercato automobilistico. Le aziende prevedono di costituire una joint venture focalizzata sulle tecnologie dell’ecosistema della mobilità futura, mirando al mercato dei consumatori finale. Secondo i dati della CAAC, l’economia a bassa quota della Cina ha superato i 500 miliardi di yuan nel 2023 e si prevede che raggiunga i 2 trilioni di yuan entro il 2030.
EHang Holdings (Nasdaq: EH) ha anunciado una asociación estratégica con Changan Automobile para desarrollar coches voladores y aeronaves eVTOL. La colaboración se centrará en la investigación, el desarrollo, la fabricación, la venta y la operación de productos relacionados con coches voladores. Changan Automobile planea invertir más de 20 mil millones de yuanes en el sector de la economía de baja altitud durante los próximos cinco años, y más de 100 mil millones de yuanes en la próxima década para soluciones de movilidad integradas.
La asociación busca combinar la experiencia de EHang en vehículos aéreos y gestión de vuelos a baja altitud con las capacidades de fabricación de Changan y su presencia en el mercado automotriz. Las empresas planean establecer una empresa conjunta centrada en las tecnologías del ecosistema de movilidad futura, dirigidas al mercado de consumidores finales. Según los datos de la CAAC, la economía de baja altitud en China superó los 500 mil millones de yuanes en 2023 y se espera que alcance los 2 billones de yuanes para 2030.
EHANG Holdings (Nasdaq: EH)는 长安汽车 (Changan Automobile)와의 전략적 파트너십을 발표하여 비행 자동차 및 eVTOL 항공기를 개발할 예정입니다. 이 협력은 비행 자동차 관련 제품의 연구, 개발, 제조, 판매 및 운영에 중점을 둘 것입니다. 长安자동차는 향후 5년 동안 저고도 경제 분야에 200억 위안 이상을 투자할 계획입니다. 향후 10년 동안 통합 이동 솔루션에 1,000억 위안 이상을 투자할 예정입니다.
이번 파트너십은 EHang의 공중 차량 및 저고도 비행 관리 전문성과 Changan의 제조 능력 및 자동차 시장 입지를 결합하는 것을 목표로 하고 있습니다. 두 회사는 최종 소비자 시장을 목표로 하는 미래 이동 생태계 기술에 중점을 두고 합작 회사를 설립할 계획입니다. CAAC 데이터에 따르면 중국의 저고도 경제는 2023년에 5,000억 위안을 초과했으며, 2030년까지 2조 위안에 이를 것으로 예상됩니다.
EHang Holdings (Nasdaq: EH) a annoncé un partenariat stratégique avec Changan Automobile pour développer des voitures volantes et des aéronefs eVTOL. La collaboration se concentrera sur la recherche, le développement, la fabrication, la vente et l’exploitation de produits liés aux voitures volantes. Changan Automobile prévoit d’investir plus de 20 milliards de yuan dans le secteur de l’économie de basse altitude au cours des cinq prochaines années, et plus de 100 milliards de yuan au cours de la prochaine décennie pour des solutions de mobilité intégrées.
Le partenariat vise à combiner l’expertise d’EHang en matière de véhicules aériens et de gestion des vols à basse altitude avec les capacités de fabrication de Changan et sa présence sur le marché automobile. Les deux entreprises prévoient de créer une coentreprise axée sur les technologies de l’écosystème de mobilité future, ciblant le marché des clients finaux. Selon les données de la CAAC, l’économie de basse altitude en Chine a dépassé les 500 milliards de yuan en 2023 et devrait atteindre 2 trillions de yuan d’ici 2030.
EHang Holdings (Nasdaq: EH) hat eine strategische Partnerschaft mit Changan Automobile bekannt gegeben, um fliegende Autos und eVTOL-Flugzeuge zu entwickeln. Die Zusammenarbeit wird sich auf Forschung, Entwicklung, Herstellung, Verkauf und Betrieb von Produkten im Zusammenhang mit fliegenden Autos konzentrieren. Changan Automobile plant, über 20 Milliarden Yuan im Bereich der Niedrigaltwirtschaft in den nächsten fünf Jahren zu investieren, und mehr als 100 Milliarden Yuan in der nächsten Dekade für integrierte Mobilitätslösungen.
Die Partnerschaft zielt darauf ab, EHang’s Fachwissen in Luftfahrzeugen und Niedrigaltflugmanagement mit Changans Herstellungskapazitäten und Marktpräsenz in der Automobilbranche zu kombinieren. Die Unternehmen planen, ein Joint Venture zu gründen, das sich auf Zukunftstechnologien im Mobilitätsökosystem konzentriert, das die Endverbraucher als Zielgruppe hat. Laut Daten der CAAC überstieg die Niedrigaltwirtschaft Chinas im Jahr 2023 500 Milliarden Yuan und wird bis 2030 voraussichtlich 2 Billionen Yuan erreichen.
Positive
- Strategic partnership with major Chinese automaker Changan Automobile
- Changan’s commitment to invest 20 billion yuan in next 5 years
- Additional 100 billion yuan investment planned over next decade
- Expansion into flying car market targeting broader consumer base
- Access to Changan’s manufacturing infrastructure and sales channels
Insights
The collaboration brings together EHang’s eVTOL expertise with Changan’s robust automotive manufacturing capabilities and 100 billion yuan planned investment over the next decade. The Chinese low-altitude economy market is projected to reach 2 trillion yuan by 2030 and 3.5 trillion yuan by 2035, representing a massive growth opportunity. Changan’s immediate commitment of 20 billion yuan investment over the next five years signals strong financial backing for the venture.
This deal significantly enhances EHang’s market position by providing access to Changan’s established manufacturing infrastructure, supply chain networks and distribution channels. The partnership could accelerate EHang’s transition from a pure eVTOL player to a broader mobility solutions provider, potentially capturing a larger share of the personal transportation market.
The technical synergy in this partnership is particularly compelling. EHang’s proven expertise in autonomous aerial vehicle technology and low-altitude flight management systems will complement Changan’s automotive engineering capabilities. The joint venture’s focus on flying cars represents a strategic expansion beyond traditional eVTOLs, targeting the broader consumer market rather than just commercial applications.
The integration of automotive and aviation technologies could yield breakthrough innovations in areas like battery technology, autonomous systems and aerodynamic design. Changan’s manufacturing expertise will be important for scaling production and achieving cost efficiencies needed for mass-market adoption. The partnership’s emphasis on pilotless operation aligns with the industry’s autonomous future, potentially accelerating the development of next-generation personal aerial vehicles.
GUANGZHOU, China, Dec. 21, 2024 (GLOBE NEWSWIRE) — EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced the signing of a strategic cooperation agreement with Chongqing Changan Automobile Co., Ltd., (“Changan Automobile”), a leading Chinese car manufacturer listed on the Shenzhen Stock Exchange (ticker symbol:000625), in the presence of the Chongqing Municipal Government and representatives from various industry sectors. The parties will collaborate on the research and development, manufacturing, sales, and operation of flying car-related products, including electric vertical takeoff and landing (“eVTOL”) aircraft and innovative flying cars. Leveraging EHang’s strong product development capabilities in aerial vehicles and low-altitude flight management technology solutions and combining Changan Automobile’s robust production and manufacturing foundation and rich market resources in the automotive sector, the parties will explore the establishment of a joint venture focused on future mobility ecosystem technologies. This cross-industry strategic partnership will further enrich and expand EHang’s eVTOL product line, unlocking a vast potential market for flying cars targeting a broad C-end customer base.
Zhao Wang, Chief Operating Officer of EHang and Xiaoyu Zhang, Executive Vice President of Changan Automobile sign a strategic cooperation agreement
The signing ceremony was held at the planned site of the Changan Global Science and Art Center in Chongqing. Distinguished attendees included Henghua Hu, Deputy Secretary of the Chongqing Municipal Committee and Mayor of Chongqing, and Xiangdong Zheng, Vice Mayor of Chongqing, and management from Changan Automobile, including Huarong Zhu, Chairman; Jun Wang, President; and Benhong Tan, Chief Human Resources Officer. Also present were EHang’s Huazhi Hu, Founder, Chairman, and CEO; Zhao Wang, Chief Operating Officer, and Conor Yang, Chief Financial Officer. Ceremony highlights included a flight of the EH216-S pilotless passenger-carrying eVTOL aircraft.
The EH216-S pilotless eVTOL performs a flight demonstration at the signing ceremony, while the EH216-F and EH216-L pilotless eVTOLs are displayed on-site
As one of China’s top four automotive groups, Changan Automobile boasts strong capabilities in R&D, manufacturing infrastructure, supply chain, sales channel resources, and significant market influence in automobile market. EHang, as a pioneer in the global UAM sector, is leading the way in the R&D and design, mass production, certifications and large-scale safe operation for pilotless passenger-carrying eVTOL aircraft. Under this agreement, the two parties will leverage their respective strengths and resources to jointly develop flying cars and with cutting-edge technologies, future-oriented design, and market competitiveness. The collaboration covers R&D, production, market promotion, channel development, user experience and after-sales service, while integrating low-altitude economy applications to accelerate the commercialization of flying cars and EHang’s pilotless eVTOL products.
The signing ceremony of the strategic cooperation agreement between EHang and Changan Automobile
The low-altitude economy represents a national strategic emerging industry and a new quality productive force. The 2024 Central Economic Work Conference clearly pointed out the importance of leading the development of new types of productive forces with technological innovation and carrying out large-scale application demonstrations of new technologies, products, and scenarios. The Ministry of Industry and Information Technology and other departments in China have proposed to encourage the research and development of flying car technologies, product validation, and the exploration of commercial application scenarios, with a strong focus on developing unmanned, electric, and intelligent low-altitude equipment. As a new type of aircraft for the development of the low-altitude industry, eVTOLs have vast development potential. According to data by the Civil Aviation Administration of China, the scale of China’s low-altitude economy exceeded 500 billion yuan in 2023, and it is expected to reach 2 trillion yuan by 2030, with the market potentially growing to 3.5 trillion yuan by 2035.
Earlier this year in September, the Chongqing Municipal Government Office issued the Action Plan for Promoting Low-Altitude Airspace Management Reform and High-Quality Development of the Low-Altitude Economy (2024–2027). The plan aims to position Chongqing as an innovative benchmark city in low-altitude economy and supports intelligent automobile manufacturers in exploring eVTOL R&D and production. EHang and Changan Automobile are collaboratively aligning with the low-altitude economy development strategy, basing strategies upon Chongqing’s favorable policies to accelerate the complementary integration of the automotive and low-altitude economy industry. The emergence of a new generation of low-altitude mobility products will introduce a higher-quality, more efficient, and environmental-friendly three-dimensional transportation solution designed to meet the challenges of Chongqing’s complex mountainous terrain. This innovation will set a new benchmark for advancing the low-altitude economy.
Huarong Zhu, Chairman of Changan Automobile, speaking at the strategic cooperation signing ceremony
Huarong Zhu, Chairman of Changan Automobile, said:
“The cooperation between Changan Automobile and EHang in the development of flying cars is of great significance, allowing both parties to leverage their respective strengths. Over the next five years, Changan Automobile plans to invest more than 20 billion yuan in the low-altitude economy sector to accelerate the development of the flying car industry. Over the next decade, we will invest more than 100 billion yuan to explore integrated mobility solutions across land, sea and air.”
Huazhi Hu, Founder, Chairman, and CEO of EHang, speaking at the strategic cooperation signing ceremony
Huazhi Hu, Founder, Chairman, and CEO of EHang, stated:
“During this rapid development stage of the low-altitude economy, EHang remains committed to collaborating with upstream and downstream partners to enhance the pilotless eVTOL industrial chain and its ecosystem. We look forward to more cross-industry cooperation with mature domestic automakers, leveraging each other’s strengths and resources to create complementary and synergistic effects, continuously enriching and developing eVTOL product series that cater to diverse scenario demands and customers. This strategic partnership with Changan Automobile, aimed at jointly advancing the R&D, manufacturing, sales, and operation of next-generation flying cars product, will further enrich the ecosystem of the low-altitude economy and offer consumers more travel options.”
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.
About Changan Automobile
Changan Automobile is one of the four major Chinese automobile groups, with 40 years of car manufacturing experience, we have 14 manufacturing bases and 34 plants worldwide. As a leading Chinese car manufacturer, CHANGAN Automobile has self-owned brands including CHANGAN UNI, CHANGAN NEVO, CHANGAN LCV, DEEPAL, AVATR, and joint venture brands including CHANGAN Ford, CHANGAN Mazda, and JMC. Changan Automobile has more than 18,000 engineers and technicians from 31 countries around the world, and has established R&D network of ten cities in six countries in Chongqing, Beijing, Shanghai, Dingzhou in Hebei, Hefei in Anhui, Turin in Italy, Yokohama in Japan, Birmingham in the UK, Detroit in the US and Munich in Germany.
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.
Investor Contact: ir@ehang.com
Media Contact: pr@ehang.com
Photos accompanying this announcement are available at:
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FAQ
What is the value of Changan Automobile’s investment in EH’s flying car initiative?
Changan Automobile plans to invest over 20 billion yuan in the next five years and more than 100 billion yuan over the next decade in the low-altitude economy sector.
What is the projected market size for China’s low-altitude economy by 2030?
According to CAAC data, China’s low-altitude economy is expected to reach 2 trillion yuan by 2030, growing from 500 billion yuan in 2023.
What products will EH and Changan Automobile develop together?
The companies will collaborate on developing eVTOL aircraft and innovative flying cars, including research, manufacturing, sales, and operations.
How will the EH-Changan partnership be structured?
The companies plan to establish a joint venture focused on future mobility ecosystem technologies, combining EHang’s aerial expertise with Changan’s automotive capabilities.
What is the significance of this partnership for EH’s market expansion?
The partnership will help EHang expand its eVTOL product line and access a broader consumer market through Changan’s established manufacturing and sales channels.
