Core Viewpoint - Shanghai is rapidly developing into a hub for the low-altitude economy and aims to become the "world eVTOL capital," with significant contributions from local companies like Volant [1][2]. Group 1: Company Overview - Volant was established in 2021 and has been a leader in the eVTOL industry in Shanghai, achieving significant milestones in technology development and commercial operations [2]. - The company has received over 1,900 global intent orders worth more than 47.5 billion, with nearly 100 confirmed orders, indicating a strong move towards commercialization [4][5]. Group 2: Industry Development - The Shanghai government aims for the low-altitude economy's core industry to reach approximately 80 billion by 2028, establishing a complete industrial chain for new aviation vehicles [2]. - The low-altitude economy is recognized as a strategic emerging industry in China, integrating advanced manufacturing, aerospace, artificial intelligence, and new materials [7]. Group 3: Future Plans - Over the next 3 to 5 years, Volant plans to deepen its focus on urban air mobility, create operational pilot projects, and expand into Southeast Asia [3]. - The company is actively preparing for capacity expansion and aims to achieve commercial-scale operations, with a production capacity of around 100 units per year after facility upgrades [5]. Group 4: Financing and Investment - Volant has completed 11 rounds of financing, with the latest round in November 2025 raising several hundred million yuan, aimed at supporting the certification and mass production of its eVTOL models [6]. - The company emphasizes a diversified shareholder structure, seeking investors who can provide long-term support in product and application development [7].

Core Viewpoint - Shanghai is rapidly developing into a hub for the low-altitude economy and aims to become the "world eVTOL capital" by 2025, with significant contributions from local companies like Volant. [1] Industry Development - The Shanghai government has set a target for the low-altitude economy's core industry to reach approximately 80 billion yuan by 2028, establishing a complete industrial chain for new low-altitude aircraft. [2] - The advanced air mobility (AAM) reality capability index by SMG ranks two Shanghai-based companies among the top six globally, highlighting the city's growing influence in the eVTOL sector. [1] Company Progress - Volant, founded in 2021, has made significant strides in eVTOL technology development, achieving milestones such as the first commercial passenger eVTOL prototype and the first domestic eVTOL engineering simulator. [2] - The company has secured over 1,900 global intent orders worth more than 47.5 billion yuan, with nearly 100 confirmed orders, indicating a shift towards commercial viability. [3][4] Commercialization Strategy - Volant is focusing on transforming intent orders into confirmed orders, which signifies a stronger commitment to delivery and commercial operations. [4] - The company is actively preparing for production capacity expansion, aiming for an annual output of around 100 eVTOL units after facility upgrades. [4] Ecosystem Development - Volant emphasizes the importance of building an ecosystem for the low-altitude economy, integrating manufacturing and operations to facilitate smooth commercialization. [5] - The company is working on establishing a comprehensive ecosystem that includes upstream manufacturing and downstream operations to support its business model. [5] Capital Investment - Volant has completed 11 rounds of financing, with the latest being a multi-million yuan B+ round aimed at supporting eVTOL certification and mass production. [6] - The financing strategy focuses on attracting diverse investors who can provide long-term support in product and application development. [6][7] Future Outlook - The company anticipates that 3 to 5 domestic eVTOL firms may enter the capital market within the next 1 to 2 years, supported by favorable listing regulations. [7] - Volant is in discussions with brokers and regulatory bodies to explore future capital market opportunities, viewing potential public offerings as a key growth catalyst. [7]

Core Viewpoint - Archer Aviation's stock has entered a bear market, declining from a high of $14.60 in October to a current price of $8.42, reflecting a decrease in investor sentiment within the eVTOL industry [1] Company Summary - Archer Aviation's stock price has decreased significantly, indicating a bearish trend in the market [1] - The decline in stock price is attributed to waning investor sentiment towards the eVTOL sector [1] Industry Summary - The eVTOL industry is experiencing a shift in investor sentiment, which has negatively impacted stock prices, including that of Archer Aviation [1] - The current market conditions suggest a challenging environment for companies within the eVTOL space [1]

Core Viewpoint - The second China eVTOL Innovation Development Conference is scheduled for January 15-16, 2026, in Shanghai, aiming to gather industry stakeholders to discuss key topics such as airworthiness certification, aircraft development, technological breakthroughs, business models, and investment financing in the eVTOL sector [2]. Group 1: Conference Objectives and Structure - The conference aims to create a high-level collaboration platform by inviting government regulators, industry associations, research institutions, eVTOL manufacturers, key system suppliers, and investment institutions to address challenges and foster innovation in the eVTOL industry [2]. - The agenda includes discussions on the commercialization path and future trends of eVTOL, as well as key technology workshops and project roadshows for investment matching [12]. Group 2: Key Speakers and Topics - Notable speakers include Nie Hong, President of Nanjing University of Aeronautics and Astronautics, and Jin Wei from the Ministry of Industry and Information Technology, who will discuss the current state and trends of low-altitude equipment development [3]. - Other speakers will cover topics such as intelligent electric vertical takeoff and landing (i-EVTOL) practices, airworthiness certification breakthroughs, and the commercialization challenges of low-altitude economic applications [4][5]. Group 3: Technical Innovations and Safety - Discussions will focus on the safety and efficiency of eVTOL systems, including advancements in electric propulsion, battery technology, and flight control systems [6][8]. - The conference will also address the digital empowerment of airworthiness management and the development of intelligent decision-making systems for low-altitude operations [9][10].

Group 1 - Beijing's core AI industry is expected to reach a scale of 450 billion yuan by 2025, with over 2,500 companies, accounting for about half of the national total [1] - The "Beijing AI Innovation High Ground Construction Action Plan" aims to achieve a trillion yuan core industry scale within two years, establishing Beijing as a global AI innovation hub [1] - Beijing ranks second globally in terms of AI innovation cities, with 148 influential AI scholars, representing over 40% of the national total [2][3] Group 2 - The first four AI innovation districts have been launched in Beijing, focusing on a "one core, multiple points" layout centered in Haidian [3] - The core AI industry in Beijing is projected to grow from nearly 350 billion yuan in 2024 to approximately 450 billion yuan in 2025, indicating strong growth momentum [3] - Other cities like Shanghai, Shenzhen, and Hangzhou are also competing to become leading AI cities, each with unique strengths in the AI sector [3] Group 3 - The action plan for 2024-2025 emphasizes building an AI-native city and enhancing Beijing's global influence in AI innovation and application [2] - The plan includes various initiatives such as technology innovation, data aggregation, and safety governance to support the AI industry's growth [1]

Core Viewpoint - Joby Aviation is advancing its electric air taxi services through a partnership with Metropolis Technologies to develop 25 vertiports across the U.S., aiming to accelerate air taxi adoption [2][3]. Group 1: Joby Aviation Developments - Joby Aviation has partnered with Metropolis Technologies to create 25 vertiports for its electric vertical take-off and landing (eVTOL) aircraft, utilizing Metropolis' AI-based recognition technology [2]. - The partnership follows Metropolis' $1.5 billion acquisition of SP+ and a $1.6 billion Series D funding round, with plans to assess new and existing facilities for integration into early electric air taxi markets [3]. - Joby has completed its acquisition of Blade Air Mobility's urban air mobility passenger business, marking a significant step towards launching commercial operations [5]. Group 2: Technological Integration - Joby plans to incorporate AI-based recognition technology from Metropolis, including computer vision and biometrics, to enhance passenger experience [4]. - Metropolis will introduce its Bags VIP service to Joby's operations, aiming to alleviate passenger concerns regarding luggage handling during air taxi flights [4]. Group 3: Competitive Landscape - Archer Aviation, a competitor in the eVTOL space, is developing an air taxi network in the Miami area to provide an alternative to road traffic [7]. - Archer has partnered with Karem Aircraft to access advanced rotor and tiltrotor technologies for next-generation autonomous aircraft, supporting both commercial and military applications [8]. Group 4: Financial Performance and Outlook - Joby shares have seen double-digit gains over the past six months, outperforming the Zacks Aerospace-Defense industry, although it is trading at a premium compared to its industry peers [9]. - The Zacks Consensus Estimate for Joby's losses in Q4 2025, Q1 2026, and full-year 2025 and 2026 has widened over the past 60 days [10].

Core Viewpoint - The article reflects on the achievements of Zhenjiang in 2025 and outlines a vision for the future, emphasizing high-quality development, innovation, and a commitment to improving the lives of its citizens as part of China's modernization efforts [6][15][18]. Group 1: Economic Development - Zhenjiang is focusing on high-quality development as its primary task, with strong momentum in industrial upgrades and accelerated innovation [6][10]. - The city has launched a "one-number strategy" aimed at becoming an industrial powerhouse, with significant advancements in sectors like aerospace and smart agriculture [10]. - The introduction of the world's first commercially operated eVTOL in Zhenjiang signifies the city's commitment to embracing future industries [10]. Group 2: Regional Integration - The "Ning-Zhen-Yang integration" initiative is gaining momentum, enhancing transportation links and facilitating the development of a metropolitan area [10]. - Zhenjiang's strategic location with a world-class shipping canal and a major port supports its integration into regional development [10]. Group 3: Environmental Sustainability - The city prioritizes ecological preservation, viewing it as a core competitive advantage, with a commitment to maintaining its natural beauty and promoting green development [11]. - The philosophy of "green mountains and clear waters are as valuable as mountains of gold and silver" is central to Zhenjiang's development strategy [11]. Group 4: Social Welfare - Zhenjiang has focused on addressing citizens' urgent needs, implementing reforms that enhance the quality of life and improve public services [11]. - Initiatives like the "convenient bus" service have been introduced to make daily commutes easier for residents, reflecting a commitment to improving community welfare [11]. Group 5: Future Aspirations - The city aims to transform its ambitious vision into actionable plans in 2026, focusing on innovation, openness, and sustainable development [15][18]. - Zhenjiang seeks to enhance its unique value within the Yangtze River Delta, aiming for deeper integration and collaborative growth [15].

Core Viewpoint - Joby Aviation is on a strong growth trajectory with a stock increase of 73% over the last year and 326% over the last three years, aiming for FAA certification and commercial launch in 2026, but a short-term investment approach may overlook its long-term potential [1][2]. Group 1: Business Model and Growth Prospects - Joby Aviation is not just an eVTOL OEM; it aims to be a vertically integrated transportation company, providing services to customers including government agencies like the U.S. Air Force [4]. - The company has multiple growth opportunities as it positions itself as the "Uber of the Skies," having received a $125 million investment from Uber and acquiring Uber's air taxi division, Uber Elevate, in 2020 [5]. - Joby also plans to integrate the Blade air mobility business into Uber's app, enhancing its service offerings [5]. Group 2: Manufacturing Strategy - Joby follows a vertical manufacturing approach, producing its eVTOLs in-house with support from Toyota, rather than relying on multiple external suppliers [7]. - This strategy may slow down the certification process compared to competitors like Archer Aviation, but Joby is currently ahead in the certification race, marking a significant achievement [8].

Core Insights - Joby Aviation plans to double its manufacturing capacity in the U.S. to four aircraft per month by 2027, reflecting a significant scaling of production in response to rising demand for electric air taxis [1][11] - The company has disclosed over $1 billion in potential aircraft and service sales, indicating strong market interest in electric vertical takeoff and landing (eVTOL) aircraft [2][11] - Federal support for the eVTOL sector is increasing, with the U.S. government launching an eVTOL Integration Pilot Program to accelerate air taxi operations [2] Manufacturing and Expansion - Joby is entering a transformative phase in aviation, with manufacturing operations in California and Ohio expected to redefine short-distance travel [3] - The company has expanded its manufacturing facility in Marina, CA, and started propeller blade production in Ohio, laying the groundwork for increased output [5] - Joby is procuring capital equipment to raise its production capacity from two to four aircraft per month and is hiring to enable round-the-clock operations [5] Certification and Investment - Progress towards FAA certification continues, with Joby reaching a milestone in power-on testing for its first FAA-conforming aircraft [6] - A strategic investment of $250 million from Toyota Motor aims to expedite Joby's certification process and support large-scale production [7] Competitive Landscape - Joby's main competitor, Archer Aviation, is also advancing in the eVTOL space, planning to build an air taxi network in the Miami area and entering partnerships to enhance its technology [8][9] Financial Performance - Joby shares have gained in double digits over the past six months, outperforming the Zacks Aerospace-Defense industry [12] - Joby is currently trading at a premium compared to its industry, with a Value Score of F [15] - The Zacks Consensus Estimate for Joby's losses has widened over the past 60 days for the fourth quarter of 2025 and the first quarter of 2026 [16]

如果要问，当下全球最值得我们关注和投资的新兴技术领域是什么，低空经济一定榜上有名，且必名列前茅。 近日，吉利科技集团旗下eVTOL（electric Vertical Take-off and Landing，即电动垂直起降飞行器）公司沃飞长空宣布完成数亿元C轮融资。本轮融资由杭州市政府 直属的国有全资大型投资集团杭实集团、世界最大的石油化工企业沙特阿美公司旗下风投基金Prosperity7Ventures（P7）等共同领投，老股东追加投资。 更早前，另一家国内的eVTOL公司时的科技宣布完成3亿元人民币B++轮融资，这是该公司今年内完成的第二轮融资，累计第七轮。 这些消息背后，是低空经济正从概念蓝图，加速蜕变成实体产业并落地开花的结果。 低空经济是新质生产力的代表，自2024年被首次写入政府工作报告以来，全国已有30个省份在政府工作报告中部署低空经济相关工作。从"审批难、空域划分模 糊"到"精细化管理"，从"单一业态"到"国家综合立体交通网"，国家正以"全国一盘棋"思路编制低空经济发展"十五五"相关规划，各政府部门为打通低空经济"飞得 起来、飞得顺畅"的关键堵点，竞逐形成"特色化落地模式"，为产业发展按下加 ...