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

GUANGZHOU, China, Feb. 01, 2024 (GLOBE NEWSWIRE) — EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading urban air mobility (“UAM”) technology platform company, announced the suggested retail price for its EH216-S passenger-carrying unmanned aerial vehicle (“UAV”) system in China. Given the market potential and substantial industry scale of China’s low-altitude economy, coupled with the global trend of rapid growth in low-altitude aerial services, the EH216-S UAV system’s official suggested retail price in China is set at RMB2.39 million per unit, effective from April 1, 2024. The Company believes the pricing will more effectively cater to the market needs and further enhance the value of electric vertical takeoff and landing aircraft (“eVTOL”) and UAM.

(The Suggested Retail Price for EH216-S Passenger-Carrying UAV System in China)

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(The Suggested Retail Price for EH216-S Passenger-Carrying UAV System in China)

On October 13, 2023, EHang’s self-developed EH216-S passenger-carrying UAV system received its Type Certificate (“TC”) from the Civil Aviation Administration of China (“CAAC”). Following this, on December 21, it achieved the Standard Airworthiness Certificate (“AC”), leading to the delivery to the first set of customers. On December 28, the certified EH216-S successfully completed its inaugural commercial flight demonstrations in Guangzhou and Hefei. As the world’s first pilotless passenger-carrying eVTOL aircraft system to obtain a standard airworthiness certificate, EH216-S has been highly recognized by the CAAC and its partners for its innovation, revolutionary nature, leadership, safety, and applicability. The certified EH216-S passenger-carrying UAVs that have been delivered to customers will be utilized to provide commercial services in various scenarios such as low-altitude sightseeing and urban tourism, and their presence will continue to expand the deployment and implementation in different operational scenarios.

(The EH216-S conducted flight demo at the Jiulong Lake Park, Huangpu District, Guangzhou)

(The EH216-S conducted flight demo at the Jiulong Lake Park, Huangpu District, Guangzhou)

Mr. Huazhi Hu, Founder, Chairman and CEO of EHang, remarked, “I am deeply grateful to the CAAC and our partners for their unwavering support and trust. The low-altitude economy and its related industries present a significant market opportunity for our UAM development and serve as a new engine for future economic growth in China. We remain committed to safety in aircraft research, production, operation, and commercial services, which ensures that each of our pilotless aircraft continues to lead in innovation. We look forward to collaborating with more global partners, offering consumers a novel experience of safe, autonomous, and eco-friendly air mobility. Our aim is to make pilotless aerial vehicle a common part of everyday life, bringing its benefits to a broader public.”

About EHang
EHang (Nasdaq: EH) is the world’s leading urban air mobility (“UAM”) technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle (“UAV”) systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang has obtained the world’s first type certificate for unmanned eVTOL from the Civil Aviation Administration of China in 2023. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.

Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

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Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/d7f20f94-c86c-4d77-aa41-9fb2414e6421

https://www.globenewswire.com/NewsRoom/AttachmentNg/8554d41c-e241-4d43-9ced-9733cac086e6

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