十月以来，低空经济领域热点频发。 10月13日， 亿航智能发布新一代 长航程 无人驾驶载人航空器VT35 ； 小鹏汇天的"陆地航 母"在迪拜完成公开飞行演示并 称2027向中东C端售卖 ； 吉利旗下 沃飞长空自主研发的 大 型载客eVTOL 下线。 此外， 美团无人机在深圳上线夜间配送服务 ； 滴滴入局成立低空公 司。 种种迹象表明，国内无人驾驶空中交通 逐渐走向成熟， 即将 改变交通领域格局。 其中， 亿 航智能VT35 引发了行业高度关注，约200公里的 满载设计航程 和650万元的官方指导价， 将"城市—城际"低空无人驾驶生态拉入了探索规模化商用的新阶段。 类似 十 三 年前特斯拉Model S 让 电动车 走向大众的变革时刻 ，当下的低空经济似乎正站 在相似的拐点上。 那么，低空经济的"特斯拉时刻"真的临近了吗？ 三个关键的转变表明，这个被资本反复热炒又多次降温的赛道，真正进入价值兑现的阶段。 【如需和我们交流可扫码添加进社群】 低 空 经 济 加 速 起 跳 的 三 大 关 键 转 变 在低空经济赛道，物流配送、空中交通领域 事件的密集爆发， 产业正站在 商业化 爆发前夜 。 首先，商业逻辑验证，从 ...

A pilotless taxi developed in China that can fly more than 100 miles on a single charge launched this week. EHang Holdings introduced the VT35 on Monday in Hefei, Anhui Province. The taxi is part of EHang’s line of long-range, pilotless electric vertical takeoff and landing (eVTOL) aircraft."It [the car] is engineered to transform intercity aerial travel into a safe, routine, and efficient transportation experience," the company said in a news release. MY CHINESE DRONE BAN IS A BIG WIN FOR US NATIONAL SECUR ...

Core Insights - EHang Holdings Limited has launched an Advanced Air Mobility (AAM) Sandbox Initiative in Thailand, aiming to fast-track commercial operations of its EH216-S pilotless eVTOL aircraft [1][5] - The Initiative is a collaboration with the Civil Aviation Authority of Thailand (CAAT) and local partners, focusing on establishing the world's first commercial eVTOL operations through an innovative regulatory "sandbox" approach [1][6] - Continuous trial operations of the EH216-S have commenced in Bangkok, with plans to expand to additional locations across Thailand [1][6] Company Developments - The EH216-S successfully completed a series of autonomous flights during the launch event, demonstrating its flight control systems and operational reliability [3][5] - EHang held a technical meeting with CAAT officials to present the EH216-S's safety architecture and risk assessment framework, which is crucial for gaining local regulatory approval [5][9] - Local partners will provide operational support, including infrastructure and teams, to expand the sandbox areas for sightseeing and transportation services [6][10] Industry Context - Thailand is positioned as a strategically vital AAM market due to its strong service sector, tourism industry, and government policies promoting smart transportation [8][10] - The country's urban areas, particularly Bangkok, face traffic congestion, making it an ideal environment for AAM solutions [8][10] - The CAAT and Ministry of Transport (MOT) of Thailand are committed to advancing sustainable transportation and positioning Thailand as a regional AAM hub [9][10]

Core Insights - EHang's EH216-S is the only eVTOL model globally that has obtained three airworthiness certificates and is set to commence commercial operations [1] - The newly launched VT35 model has a starting price of 6.5 million yuan and offers a longer range, enabling intercity travel [1][2] - EHang is collaborating with Jianghuai Automobile and Hefei Guoxian Holdings to establish a joint venture for low-altitude aircraft manufacturing in Hefei [2] Group 1 - EHang's EH216-S successfully ascended to 50 meters during a test flight, showcasing its operational capabilities [1] - The VT35 model is designed for mid to long-range travel, with a maximum range exceeding 200 kilometers, allowing potential routes from Shanghai to nearby cities like Hangzhou and Wuxi [2] - The pricing model for the VT35 will be based on flight distance, similar to taxi fare structures [2] Group 2 - EHang is the only certified operator in the eVTOL industry, which positions it as a key player in setting operational standards and regulations [1] - The interior suppliers for the VT35 share similarities with those of the luxury car brand ZunJie, indicating a focus on high-quality design [2] - The Civil Aviation Administration of China is closely monitoring EHang's operations, which could lead to accelerated industry development once a successful operational model is established [1]

Core Viewpoint - EHang's new eVTOL model, VT35, is designed for longer-distance travel and is priced at 6.5 million yuan, significantly higher than its predecessor EH216-S, which is priced at 2.39 million yuan. The VT35 aims to establish a commercial operational model for the eVTOL industry in China [1][7]. Group 1: Product Features and Specifications - The VT35 has a length of approximately 8 meters, a height of about 3 meters, and a wingspan of around 8 meters, capable of carrying two passengers with a maximum takeoff weight of 950 kilograms [5]. - The VT35 features a serial wing design with eight distributed lift propellers for vertical takeoff and landing, while the EH216-S uses a multi-rotor design with 16 propellers [5]. - The VT35 is expected to have a range of over 200 kilometers when fully loaded, allowing for intercity travel, such as from Shanghai to nearby cities like Hangzhou and Wuxi [6]. Group 2: Market Position and Pricing - The VT35 is priced at 6.5 million yuan, which is lower than similar eVTOLs available internationally, such as SkyDrive's SD-05 priced at approximately 10.71 million yuan [7]. - EHang's cost management strategies, including the use of existing production lines and shared components with the EH216 series, have helped stabilize production costs for the VT35 [8]. Group 3: Industry Context and Regulatory Environment - EHang is the only company with operational certification for eVTOLs in China, and its operations are being closely monitored by the Civil Aviation Administration of China (CAAC) [1][17]. - The successful operation of EHang's eVTOLs is seen as a critical step in establishing industry standards and regulations, which will facilitate further development in the sector [17].

Summary of EHang (EH) Conference Call Company Overview - **Company**: EHang - **Product**: VT-35 eVTOL (Electric Vertical Take-Off and Landing) aircraft - **Launch Date**: October 2025 - **Market Price**: Rmb6.5 million per unit in China Key Points Product Launch and Features - EHang launched the VT-35, designed for long-range inter-city applications, with a range exceeding 200 km [1][8] - The VT-35 features 2 seats and 8 distributed lift propellers, with a maximum take-off weight of 950 kg [8] - The aircraft is compact, allowing for landing in various locations such as parking lots, parks, and rooftops [8] - VT-35 is a driverless model with pre-set routes, supported by a control system and fleet operation team [8] Certification and Production - EHang has submitted the Type Certification (TC) application for the VT-35 to the Civil Aviation Administration of China (CAAC) in March 2025 [1][10] - The model is currently undergoing Airworthiness Certification (AC) through internal testing and experimental flights [1][10] - An agreement has been signed with the Hefei government to establish a production hub for the VT-35 [1][10] Market Potential and Strategy - The VT-35 targets city clusters such as Bay areas and the Yangtze River Delta, and is designed for various transportation scenarios including cross-sea and cross-mountain [11] - EHang plans to develop a tilt-rotor model based on the VT-35 platform to expand its application scenarios [11] Financial Outlook - EHang is rated as a "Buy" with a 12-month target price of US$24.80, indicating a potential upside of 37.5% from the current price of US$18.04 [15][18] - Revenue projections show growth from Rmb456.2 million in 2024 to Rmb1.563 billion by 2027 [18] - The company anticipates a 10% year-over-year growth in free cash flow from 2028 to 2030, with a terminal growth rate of 3% [15] Risks - Key risks include slower-than-expected regulatory progress regarding airworthiness, weaker customer adoption of passenger-grade AAVs (Autonomous Aerial Vehicles), and increased competition in the AAV market [16] Conclusion - EHang is positioned for significant growth with the launch of the VT-35, supported by strategic partnerships and a clear path to certification and production. The company's financial outlook remains positive, although it faces several risks that could impact its performance in the evolving AAV market [1][15][16]

Industry Overview - EHang Holdings Limited (NASDAQ: EH) operates in the competitive eVTOL (electric Vertical Take-Off and Landing) sector, which is still relatively new but has several key players, including Joby [1] Company Insights - EHang is one of the prominent companies in the eVTOL space, indicating a growing interest and investment in this innovative transportation technology [1]

Core Insights - EHang Holdings Limited (NASDAQ: EH) operates in a competitive eVTOL (electric Vertical Take-Off and Landing) market, alongside other notable players like Joby [1] Industry Overview - The eVTOL space is relatively new but has already attracted significant competition, indicating a growing interest and investment in this sector [1] Company Analysis - EHang is highlighted as one of the key players in the eVTOL market, suggesting its potential for growth and innovation within this emerging industry [1]

Core Insights - E-Hang has launched the VT35, a new generation long-range pilotless EV toll aircraft designed for intercity air travel [1] - The VT35 features advanced technology including autonomous flight systems and obstacle avoidance, aiming to enhance safety and efficiency in urban transportation [1] Product Features - The VT35 has a compact tandem wing design, two seats, eight lift propellers, and a pusher propeller for efficient cruising [1] - It offers a range of 200 kilometers, showcasing improved aerodynamics and stability [1] Strategic Vision - The launch of the VT35 represents a significant milestone in E-Hang's long-range product line and its vision for advanced air mobility [1] - E-Hang aims to accelerate the commercialization of pilotless EV toll aircraft across various application scenarios, contributing to a new integrated urban intercity low-altitude transportation ecosystem [1] Market Applications - E-Hang develops a diversified portfolio of pilotless EV toll aircraft for multiple use cases, including aerial tourism, intracity transport, and intercity travel [1]

来源：市场资讯 阳歌 电动垂直起降航空器（eVTOL）制造商亿航智能（EH.US）近期似乎陷入横行状态，自两年前旗舰产品 获中国民航局颁发适航证后，公司的股价始终在较宽的区间内波动。 似为提振股价，公司近期开始力推其新一代主力产品，满载航程不小于200公里的长航程电动垂直起降 航空器，以匹配原有约30公里航程的短途机型EH216-S。今年8月，亿航智能宣布重大计划，将在安徽 合肥建立新型号VT35的生产基地。 （来源：BBW咏竹坊） 这家电动垂直起降航空器制造商推出第二款主力机型，满载航程不小于200公里，与其原有短途机型形 成互补 重点： 消息令投资者略受鼓舞，公告发布当日，亿航智能美股股价攀升4.8%。但涨幅及相近规模的单日下 跌，在两年前亿航智能取得全球首批主流航空监管机构认证后，已渐成常态。 本周一，公司在合肥正式发布VT35，试图以此吸引投资者瞩目。值得注意的是，活动被描述为"亮相仪 式"，暗示现场无人实际目睹VT35飞行。新闻稿中配发的若干飞行照片，明显摄于华南风景秀丽的广西 地区，表明该机型虽已进行有限试飞，但或未达到能在重要发布会上公开展示的成熟度。 亿航智能推出第二款主力机型VT35，其20 ...