EH EHang Holdings Ltd

EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading urban air mobility (“UAM”) technology platform company, announced that today the certified EH216-S pilotless passenger-carrying aerial vehicles have successfully completed debut commercial flight demonstrations in Guangzhou and Hefei respectively, marking another major step towards normalizing flights with EH216-S in aerial sightseeing at local scenic spots.

Esteemed government officials and guests attended flight events in Guangzhou, including Mr. Yonghang Guo, Standing Committee Member of Guangdong Provincial Committee and Secretary of Guangzhou Municipal Committee, Mr. Jie Chen, Standing Committee Member of Guangzhou Municipal Committee, Executive Vice Mayor of Guangzhou, and Secretary of Huangpu District Committee, Mr. Shijie Liang, Deputy Director of the CAAC Central and Southern Regional Administration, etc. Guests attending the flight event in Hefei included Mr. Aihua Yu, Standing Committee Member of Anhui Provincial Committee and Secretary of Hefei Municipal Committee, Mr. Yunfeng Luo, Deputy Secretary of Hefei Municipal Committee and Mayor of Hefei, etc.

(EH216-S flight demonstration events in Guangzhou and Hefei)

Guangzhou and Hefei are two additional demonstration cities selected for UAM operations in strategic partnership with EHang for establishing a leading presence in the emerging low-altitude economy industry.

Today, two grand launch events were held at the Jiulong Lake Park in Guangzhou and the Luogang Central Park in Hefei. Both events marked the debut commercial flight demonstrations with the certified EH216-S aircraft, which have obtained the Standard Airworthiness Certificates issued by the Civil Aviation Administration of China (the “CAAC”). Several government officials and citizens from Guangzhou and Hefei joined the first group of invited passengers to take a ride on the EH216-S, and experienced the magnificent scenery from a completely new perspective above the city landmarks. The events attracted representatives from local governments, the CAAC, various enterprises, media, and citizens, highlighting significant interest in this new way of air mobility.

(EH216-S completed commercial flight demonstration at Guangzhou Jiulong Lake Park.)

(The invited passenger took a ride on the EH216-S in Guangzhou.)

The first EH216-S passenger-carrying unmanned aerial vehicle system which has obtained the world's first standard airworthiness certificate, has been successfully delivered to ETON, an intelligent aviation technology subsidiary of Guangzhou Development District Communications Investment Group Co., Ltd., and has been deployed at the Jiulong Lake operational site. More operation sites and flight routes for aerial sightseeing and logistics are under development in Huangpu district as well.

In addition, Guangzhou Development District Communications Investment Group Co., Ltd. and Guangzhou Industrial Investment Capital today announced to jointly set up a Guangzhou Development District Low-Altitude Industry Venture Capital Fund with the target fund size of RMB 10 billion.

(EH216-S completed commercial flight demonstration at Hefei Luogang Central Park.)

The Luogang Central Park is designated by the Hefei government as an electric vertical take-off and landing (“eVTOL”) aircraft operation site for its Full-Space Unmanned System Integrated Application Demonstration Project. Transformed from the former Hefei Luogang International Airport, the Luogang Central Park is known as the world's largest urban central park, covering a total area of 12.7 square kilometers. It hosts natural landscape, theme gardens, playgrounds, concert halls, restaurants, apartments, and hotels, which has attracted 300,000 daily visitors during holidays. Abundant application scenarios and massive demands for aerial sightseeing, tourism and regional shuttle services makes the Luogang Central Park an ideal commercial operation site for EH216-S pilotless passenger-carrying eVTOL aircraft.

Following the first eVTOL flight route at Luogang Center Park, the Hefei government plans to collaborate with EHang to expand aerial sightseeing flight routes and services to more scenic spots in Hefei, such as Swan Lake, among others.

Based on the strategic partnership agreement with EHang in October this year, the Hefei Municipal Government intends to facilitate the purchase of at least 100 units of EH216 series pilotless aerial vehicles from EHang, and/or provide financing support, amounting up to a total of US$100 million.

The low-altitude economy, emphasized as one of the strategic emerging industries during the annual Central Economic Work Conference recently held in China, has garnered strong support from many local governments. It has been recognized as a promising domain with strong potential to become a substantial driver of the national economic growth. Notably, Guangzhou and Hefei have been positioned as pivotal gateways for propelling China's emerging low-altitude economy industry. Favorable policies with subsidies have been constantly launched to promote the low-altitude economy related enterprises, industrial clusters, infrastructure, R&D, production, applications, operations, services, certifications, etc.

(Mr. Jie Chen, Standing Committee Member of Guangzhou Municipal Committee, Executive Vice Mayor of Guangzhou, and Secretary of Huangpu District Committee, delivered a speech at the flight demonstration event in Guangzhou.)

The Guangzhou Huangpu district government released the Detailed Rules for Implementation of Measures to Promote the High-Quality Development of the Low-Altitude Economy in Guangzhou Development District (Huangpu District) at today’s event. The government subsidies are up to RMB 30 million for eligible low-altitude industrial projects. Guangzhou Huangpu district is accelerating the layout of the low-altitude economy industrial clusters with potential values of hundreds of billions in RMB. It is foreseeable that low-altitude economy will play a more important role in the future economic and social development of Guangzhou Huangpu district. "City in the Sky" is becoming a reality, and UAM will become the new name card of Guangzhou Huangpu district.

Mr. Jie Chen, Standing Committee Member of Guangzhou Municipal Committee, Executive Vice Mayor of Guangzhou, and Secretary of Huangpu District Committee, commented, “As a local brand in Guangzhou and the world’s leading intelligent autonomous aerial vehicle technology company, EHang always adheres to innovation leadership and constantly explores the boundaries of the sky. In October this year, EHang successfully obtained the type certificate for its unmanned aerial vehicle, marking a global milestone in the development of the low-altitude economy. I believe that today’s debut commercial flight demonstration will greatly boost confidence of the entire industry and lead its development onto the fast track.”

(Mr. Quan Zhang, Standing Committee Member of Hefei Municipal Committee and Executive Vice Mayor of Hefei, delivered a speech at the flight demonstration event in Hefei.)

At today’s event, Hefei government launched the Action Plan for Low-Altitude Economic Development of Hefei (2023-2025) with 20 guidelines. It is proposed to build a low-altitude economy cluster, build a testing and airworthiness certification base, build a flight service and management platform, set up commercial flight routes for aerial tourism and logistics, etc.

Mr. Quan Zhang, Standing Committee Member of Hefei Municipal Committee and Executive Vice Mayor of Hefei, stated, “The low-altitude economy is an emerging industry as well as a new engine for economic growth. In recent years, Hefei has firmly grasped the national policy guidance, industrial development direction, and technological revolution trend, and has successfully ranked into the first tier in this new sector. EHang is definitely an industry-leading company with many ‘first’ and ‘unique’ achievements in fields of pilotless passenger-carrying flights and eVTOL. Today EHang’s debut commercial flight demonstrations mark a new chapter in the development history of the pilotless passenger-carrying aerial vehicle and the low-altitude economy. In the next step, we will join hands with key enterprises like EHang to focus on application scenarios, industrial cooperation, and business model innovation, and strive to build Hefei as a low-altitude city of international influence.”

(Mr. Huazhi Hu, Founder, Chairman and CEO of EHang, delivered a speech at the flight demonstration event in Guangzhou.)

Mr. Huazhi Hu, Founder, Chairman and CEO of EHang, stated, "We are excited that EHang continues trailblazing in the global emerging UAM industry. From the world's first-of-its-kind pilotless passenger-carrying aerial vehicle system type certificate, our first delivery with standard airworthiness certificate, to today’s debut commercial flight demonstrations with certified EH216-S aircraft in Guangzhou and Hefei, we are making steady progress towards commercial operations, as planned. This rapid advancement has been bolstered by the unwavering support of our partners, regulators and national policies focused on developing China's low-altitude economy, especially in UAM. We are confident that our concerted efforts will ensure a smooth launch of commercial operations for EH216-S in these pioneering cities in the near future.”

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 aircraft 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.

Media Contact: pr@ehang.com

Investor Contact: ir@ehang.com

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