EHang(US:EH) Jing Ji Guan Cha Wang·2026-02-17 00:32Core Insights - EHang Intelligent (EH.US) is focusing on product certification, commercial operations, capacity expansion, and internationalization in the low-altitude economy sector, with specific implementations pending official announcements [1] Product Development Progress - The application for the type certificate (TC) of EHang's next-generation long-range passenger drone VT35 was accepted by the Civil Aviation Administration of China in March 2025, with airworthiness certification work ongoing. The company plans to leverage the certification experience of EH216-S to accelerate testing and mass production of VT35, which is designed for intercity travel with a range exceeding 200 kilometers [2] Business Progress - Domestically, EHang is advancing the reservation-based public flight service of EH216-S, transitioning from trial operations to regular operations, focusing on scenarios such as tourism and urban low-altitude transportation. Internationally, the "sandbox plan" in Thailand aims to expand to 20 pilot areas by the end of 2026 to facilitate commercial approval, while the company continues demonstration flights in Spain and Qatar to explore replicable operational models [3] Capacity Expansion - The second phase of the Yunfu production base has commenced trial production by the end of 2025, with an annual production target of 1,000 eVTOL aircraft and components. Additionally, the construction of production bases in Hefei and Weihai is progressing as planned to enhance supply chain resilience and delivery efficiency [4] Strategic Advancement - The company emphasizes safety as a priority, focusing on product strength, innovation, and operational capability, while deepening commercialization and internationalization efforts. Specific directions include diversifying the product line (such as firefighting and logistics versions of eVTOL), participating in industry standard formulation, and accumulating data experience through overseas pilot projects [5] Regulatory Environment - The pace of regulatory approvals remains a critical variable affecting deliveries. A report from JPMorgan in November 2025 indicated that domestic operational certification approvals may continue into 2026, necessitating the company to overcome regulatory hurdles to accelerate order fulfillment [6]