EHang Announces Suggested Retail Price of RMB2.39 Million for EH216-S Passenger-Carrying UAV System in China

Core Viewpoint - EHang Holdings Limited has announced the suggested retail price of RMB2.39 million for its EH216-S passenger-carrying UAV system in China, effective from April 1, 2024, highlighting the potential of China's low-altitude economy and the global growth trend in aerial services [1] Company Developments - EHang's EH216-S UAV system received its Type Certificate from the Civil Aviation Administration of China on October 13, 2023, and subsequently achieved the Standard Airworthiness Certificate on December 21, 2023, allowing for customer deliveries [1] - The EH216-S successfully completed its inaugural commercial flight demonstrations in Guangzhou and Hefei on December 28, 2023, marking it as the world's first pilotless passenger-carrying eVTOL aircraft to obtain a standard airworthiness certificate [1][2] - The certified EH216-S UAVs will be utilized for commercial services in various scenarios, including low-altitude sightseeing and urban tourism, with plans for further deployment in different operational contexts [1] Market Opportunity - The low-altitude economy and related industries present significant market opportunities for EHang's urban air mobility development, which is seen as a new engine for future economic growth in China [2] - The company aims to provide safe, autonomous, and eco-friendly air mobility solutions, enhancing the value of eVTOL and urban air mobility [1][2] Company Mission and Vision - EHang's mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone, providing UAV systems and solutions across various industries [3] - The company continues to lead in innovation within the global UAM industry, focusing on the integration of flying technologies into smart city life [3]