解码广州低空“双雄”：亿航智能B端发力，小鹏汇天C端破局

Core Insights - Xiaopeng Huitian has made significant progress in the flying car sector, with its "land aircraft carrier" (X3-F) production license application accepted, marking a step towards mass production and delivery [1] - The company is rumored to be considering a Hong Kong IPO, although no concrete plans have been announced yet [1] - The domestic market currently has only EHang as a publicly listed player in the manned flying vehicle sector, indicating a competitive landscape in Guangzhou's low-altitude economy [1] Company Developments - EHang has received an operational certificate, enabling it to launch commercial manned services in cities like Guangzhou and Hefei, focusing on low-altitude tourism and sightseeing [2][3] - EHang's revenue for 2024 is projected to reach 456 million RMB, with a growth rate of 288.46%, primarily driven by B-end and G-end customers [3] - Xiaopeng Huitian aims to target the C-end market by making flying experiences accessible to ordinary consumers, with a product priced under 2 million RMB and a current order volume nearing 5,000 units [4] Market Trends - The low-altitude economy is still in its infancy, with B-end customers being the primary revenue source, while the C-end market remains underdeveloped [3][4] - Both companies are exploring different business models, with EHang focusing on fully automated flying vehicles and Xiaopeng Huitian offering a hybrid model that allows for both manual and automatic operation [5] - The development of urban air mobility is seen as a future trend, but significant technological and regulatory challenges remain [6][7] Infrastructure and Regulatory Environment - The successful implementation of urban air mobility will require comprehensive infrastructure, including command networks and ground service platforms [7] - Guangzhou is leading in the low-altitude economy, with plans to achieve a market scale of 150 billion RMB by 2027, focusing on manned flying commercial operations [7][8] - The establishment of a dedicated low-altitude economic department by the National Development and Reform Commission indicates a strategic direction for industry development [8]