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Tag: EHang

  • EHang (EH) Sees Continued Stock Growth Post-Brazil Pilotless Flight

    EHang (EH) Sees Continued Stock Growth Post-Brazil Pilotless Flight

    EHang Holdings Limited (NASDAQ: EH) has experienced a notable surge in its stock value following its inaugural pilotless flight in Brazil. As of the most recent market update, shares rose by 14.98%, reaching $14.59. This upward trajectory appears to mark the third consecutive day of growth, beginning on Tuesday, reflecting the market’s optimistic response to the company’s latest achievement.

    EHang Completed First Successful Flight in São Paulo

    This week, EHang (EH) announced a critical milestone: the successful completion of its first flight of the EH216-S pilotless electric vertical takeoff and landing (eVTOL) aircraft in Brazil. The trial flight occurred in Quadra, within the São Paulo region, in collaboration with Gohobby Future Technologies, a local operator.

    This accomplishment is pivotal for advancing Urban Air Mobility (UAM) solutions in Brazil, a nation recognized as the birthplace of Latin American aviation, boasting a prominent aeronautical industry and ranking among the world’s largest eVTOL markets.

    Regulatory Milestones and Collaborations

    EHang recently received the Experimental Flight Authorization Certificate (CAVE) from Brazil’s National Civil Aviation Agency (ANAC), permitting trial operations of the EH216-S aircraft within the country.

    Under the framework of ANAC’s CAVE certificate, EHang and its local partner, Gohobby, are conducting extensive test campaigns in close coordination with ANAC and the Brazilian Airspace Control Department (DECEA). These initiatives aim to enhance the development of operational concepts and Unmanned Aircraft Traffic Management (UTM) systems, facilitating the safe and efficient deployment of UAM solutions across Brazil.

    EH is Paving the Way for Advanced Air Mobility

    The initiation of EH216-S pilotless eVTOL flights in Brazil marks a significant step in EHang’s global commitment to developing Advanced Air Mobility. The ongoing test campaigns will enable the company to gather extensive data and operational insights, thereby fostering the creation of a safe, efficient, eco-friendly, and accessible Urban Air Mobility framework for communities throughout Brazil and the broader Latin American region.

  • Investor Optimism Drives EHang Holdings’ (EH) Pre-Market Stock Increase

    Investor Optimism Drives EHang Holdings’ (EH) Pre-Market Stock Increase

    EHang Holdings Limited (NASDAQ: EH) shares are surging sharply on US stock charts during the pre-market hour today. The most recent check showed that EHang’s stock was up 3.79% to $19.70. This rise occurs prior to the anticipated release of the company’s financial results on Monday, May 20, 2024.

    Achieving A Milestone

    With the development of the EH216-S, a pilotless electric vertical take-off and landing (eVTOL) aircraft, Hang (EH) has achieved a significant advancement in eVTOL technology. The aircraft made history for the United Arab Emirates (UAE) and the Middle East as a whole when it successfully completed the maiden passenger-carrying demonstration flight in Abu Dhabi.

    Demonstrations Of Autonomous Flight And Strategic Alliances

    Additionally, EHang demonstrated the EH216-F, which is intended for airborne logistics, and the EH216-L, which is intended for fighting fires in tall buildings. The United Arab Emirates hosted the inaugural aircraft flights for both variants. These demonstrations highlighted a range of urban air mobility (UAM) applications for pilotless eVTOL technology.

    Notably, Mr. Mohamed Al Dhaheri, a board member of Multi Level Group (MLG), EHang’s local strategic partner, participated in the EH216-S flight. Esteemed guests, including Emirati royalty, civil aviation authorities, government officials, and media representatives, attended and praised the successful demonstrations.

    Designed to address urban mobility challenges such as emissions and congestion, the EH216 series features a compact fuselage, high redundancy design, and intelligent cluster management. These attributes ensure safety, efficiency, and scalable operations, promoting eco-friendly and autonomous air mobility solutions.

    Following the EH216-S’s initial unmanned demo flights at the DRIFTx event on April 25, 2024, the recent demonstrations in Abu Dhabi represent continued progress for EHang in the UAE, supported by the GCAA, MLG, and Wings Logistics Hub. EHang is actively collaborating with its partners and UAE government entities to design and establish eVTOL vertiports, preparing for the launch of commercial UAM routes.

    Strategic Expansion In The UAE

    EHang expanded its presence in the UAE by joining the Smart and Autonomous Vehicle Industries Cluster and forming a strategic partnership with Wings Logistics Hub in December 2023. In April 2024, EHang further strengthened its foothold by establishing a strategic collaboration with the Abu Dhabi Investment Office and MLG to advance eVTOL development in the UAE.

  • EHang (EH) Stock Leapt After Earning Release

    EHang (EH) Stock Leapt After Earning Release

    EHang Holdings Limited (NASDAQ: EH) experienced a 2.66% ascent in its stock value on Wednesday, concluding trading at $15.80. This upward trajectory in EHang’s stock price closely followed the release of the quarterly results by the premier Urban Air Mobility (“UAM”) technology platform company globally.

    EHang (EH) disclosed its unaudited financial outcomes for the third quarter concluding on September 30, 2023. During this period, EHang witnessed a substantial surge in total revenues, marking a noteworthy increase of 247.9% to reach $3.9 million. The augmented gross margin, elevated by 64.6%, was attributed to the heightened average selling price of EH216 series products.

    Throughout the quarter, there was a 5.0% betterment in the operating loss, totaling $9.6 million. Simultaneously, the adjusted operating loss saw a more notable advancement of 35.2%, stabilizing at $4.7 million. The net loss, pegged at $9.2 million, displayed a 12.3% improvement, while the adjusted net loss witnessed a remarkable 43.1% enhancement, reaching $31.3 million.

    As the reporting period concluded, EHang showcased a sturdy financial stance, holding $40.5 million in a combination of cash, cash equivalents, short-term investments, and restricted short-term deposits balances.

    During Q3, EHang witnessed a notable surge in sales and deliveries of its self-developed passenger-carrying unmanned aerial vehicle (“UAV”) system EH216 series products, amounting to 13 units. This marked a substantial increase compared to the 4 units sold in the third quarter of 2022 and the 5 units sold in the second quarter of 2023.

    In October 2023, the EH216-S model achieved the type certificate (“TC”) from the Civil Aviation Administration of China (the “CAAC”). This accreditation underscores the EH216-S model’s full compliance with safety standards and airworthiness requirements established by the CAAC, qualifying it for commercial operations involving passenger-carrying UAVs.

    As the inaugural TC for unmanned electric vertical take-off and landing aircraft (“eVTOL”), the EH216-S TC not only establishes a benchmark for the airworthiness certification of innovative eVTOLs in China and abroad but also serves as a pivotal milestone for commercial UAM operations.

    The first batch of certified EH216-S units is slated to roll off the production line in the fourth quarter of 2023. Concurrently, the Company is diligently pursuing Production Certification with the CAAC, solidifying its eligibility for the mass production of EH216-S.