Core Insights - EHang Intelligent's subsidiary, Guangdong EHang General Aviation Co., Ltd., and its joint venture Hefei HeYi Aviation Co., Ltd., have received the first batch of operational qualifications for manned civil unmanned aerial vehicles (UAVs) from the Civil Aviation Administration of China, marking the beginning of the low-altitude flying "manned era" [1][2] - The electric vertical takeoff and landing (eVTOL) industry is witnessing a surge in interest from battery manufacturers, who are seen as key players in driving the commercialization of eVTOLs [1][2] - Despite advancements, the current battery performance still falls short of market demands, posing challenges for the expansion of eVTOL applications [1][10] Industry Developments - EHang Intelligent has completed the necessary certifications to initiate commercial low-altitude services, allowing consumers to purchase tickets for experiences such as low-altitude tours and urban sightseeing in cities like Guangzhou and Hefei [2] - Other companies, such as XPeng Heitech, are also accelerating their industrialization processes, with plans for mass production of their flying cars by 2026 [2] - The eVTOL industry is evolving into a new industrial chain, with various companies vying for a share of the market [2] Battery Technology and Market Dynamics - The value of the "three electrics" (motor, battery, and avionics) constitutes approximately 70% of the total value of eVTOLs, with battery costs accounting for about 20% of the overall costs [3] - Compared to electric vehicles, eVTOLs exhibit lower sensitivity to battery prices, allowing for greater innovation potential and profitability for battery manufacturers [3] - Major battery manufacturers are focusing on developing solid-state and semi-solid-state batteries, with companies like CATL and Guoxuan High-Tech actively collaborating on eVTOL battery projects [4][12] Performance Requirements - The eVTOL industry demands high-performance batteries characterized by high safety, high energy density, high discharge rates, and fast charging capabilities, collectively referred to as "three highs and one fast" [5][6] - Current eVTOL battery energy densities range from 270Wh/kg to 320Wh/kg, with a need for further advancements to meet the demands of longer-range and more frequent urban air mobility applications [11][12] Future Outlook - The industry anticipates a transition towards semi-solid-state batteries by 2025 and solid-state batteries by 2030, which are expected to significantly enhance the flight range of eVTOLs [12] - EHang Intelligent has successfully conducted the first flight test of an eVTOL with a solid-state battery, achieving a flight duration increase of 60% to 90% [12] - The development of charging infrastructure, including ultra-fast charging solutions, is critical for the operational efficiency and profitability of eVTOL services [12][13]