EHang Secures US$22 Million Investment From Strategic Investors, Including Enpower

GUANGZHOU, China, Nov. 14, 2024 — EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced a strategic investment totaling over US$22 million. The investors are Zhuhai Enpower Electric Co., Ltd. (“Enpower”, SZ300681), a Chinese leading new energy vehicle power systems provider, and a strategic institutional investor from the Middle East. Both investors agree to a 180-day lock-up period.

Enpower’s strategic investment stems from their recently announced long-term strategic partnership and technology development cooperation with EHang. This collaboration focuses on jointly developing high-performance electric motor drive systems for EHang’s electric vertical take-off and landing (“eVTOL”) aircraft.

The strategic investment from the United Arab Emirates (“UAE”)-based investor reflects their optimism in China’s burgeoning low-altitude economy industry and EHang’s growth potential as a global eVTOL leader. The UAE is one of EHang’s largest international markets, with an order book of 100 units, of which five have been delivered. This investor will leverage their extensive financial and business network to support EHang’s international expansion into other Middle Eastern countries, as well as Southeast Asia.

This strategic investment brings EHang’s total year-to-date financing to nearly US$100 million, strengthening the Company’s financial position as it embarks on its next phase of development and growth in the global UAM industry. The financing proceeds will fuel EHang’s efforts to advance next-generation eVTOL technologies and products, scale production capacity, expand its team, establish new headquarters and operation sites, and support general corporate activities.

Mr. Conor Yang, Chief Financial Officer of EHang, remarked, “We are delighted to announce this strategic investment, which demonstrates the investors’ confidence in EHang’s vision, strength, and industry leadership. This investment positions us strategically to capitalize on the immense opportunities in the UAM market and accelerate our development pace. Furthermore, the strategic investors’ support in the upstream industry chain and downstream international market development will help us strengthen our competitive edge. We will continue to push the boundaries of innovation, safety, and sustainability, striving to make UAM a reality for people worldwide.”

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’s flagship product EH216-S has obtained the world’s first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. 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 .

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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