EHang Holdings Ltd (EH)

EHang Holdings Limited is a Cayman Islands holding company, listed on Nasdaq in December 2019 with ADSs under the symbol "EH", that operates through Chinese subsidiaries and a consolidated variable interest entity. It describes itself as a leading provider of electric vertical take-off and landing (eVTOL) aircraft products and services in the global advanced air mobility industry and China's low-altitude economy. It designs, develops, manufactures and sells pilotless eVTOL aircraft and UAVs built on safety principles of redundancy design, autonomous flying and cluster management. In October 2023 it obtained the first Type Certificate from the Civil Aviation Administration of China (CAAC) for a human-carrying pilotless eVTOL aircraft, the EH216-S. It received a Production Certificate in March 2024, and in March 2025 its operating subsidiary and a joint venture received Air Operator Certificates for commercial operations.

The product portfolio centers on the EH216 series of multi-rotor eVTOL aircraft for intra-city air mobility, comprising the EH216-S (standard), EH216-F (firefighting) and EH216-L (logistics). It also includes the VT series lift-and-cruise eVTOL aircraft, such as the VT35 for longer-range regional connectivity, the Falcon B medium-sized industrial UAV, and the GD4.0 small drones for aerial media performances and light shows. Beyond manufacturing, it offers maintenance, repair and overhaul, eVTOL operation training, flight demonstrations, aerial media performances, and operation services such as vertiport site planning, route design, flight operations and trial operations. Air mobility solutions generated RMB395.2 million, or 94.5% of 2025 revenue of RMB418.0 million, and other businesses generated RMB22.8 million, or 5.5%. In 2025 it delivered 169 EH216 series units and six VT35 units, and cumulative deliveries reached 628 eVTOL units. The net loss for 2025 was RMB276.4 million and the accumulated deficit was RMB2,262.4 million.

Customers and partners include governments and public sectors, universities, aviation and tourism companies, infrastructure and telecommunication providers, and industry associations. Aircraft are mainly operated on a limited trial basis at tourism locations in China, and for testing, training, demonstration and trial operation. Use cases include aerial tourism, urban transportation, aerial logistics, emergency response, firefighting and smart city management. Its aircraft have accumulated more than 83,000 flights in 21 countries across Asia, Europe, the Americas and Africa, predominantly in China, and it has taken part in European Union advanced air mobility demonstration projects. The company points to Chinese policy support for the low-altitude economy as a key market driver.

Production takes place at the Yunfu Production Facility in China, which began operating in June 2021 with Phase I annual capacity of 300 eVTOL units. The company is certified to the AS9100 / EN9100:2018 aerospace quality standard and could expand through Phase II at Yunfu and facilities in Hefei, Weihai and Beijing. R&D staff made up 48.61% of employees at the end of 2025, and the company held 506 issued patents and 324 pending applications. It collaborates on technology and components with Tsinghua University, Changan Automobile, Gotion Hi-Tech, Minth Group and others. Its principal executive offices are at EHang Future City, Huangpu District, Guangzhou, Guangdong, China.