287% rise in yearly revenue expected for EHang
January 3, 2025
Chinese company EHang continues to hold a unique status as the only eVTOL manufacturer to turn a profit, reporting better than predicted revenues for 2024 – a success exemplified by the sale of 30 aircraft just days before. It’s little wonder, therefore, that EHang topped SMG Consulting’s AAM December 2024 reality index – placing EHang before Western rivals Beta technologies, Joby and Archer and reflecting its strong domestic presence.
However, despite being the only eVTOL to have achieved type certification (at least from the Civil Aviation Authority of China) – something it received in October 2023 – the regulator has not yet issued any air operator certificates (AOC). Still, 138 EH216-S aircraft were delivered by late November, including 64 units in the third quarter alone; representing momentum towards what EHang believes to be a “new phase of rapid growth of low-altitude economy in China”.
In late December, EHang announced it had signed a project co-operation agreement with the Weihai High-Tech Zone in China’s Shandong Province to “establish industry collaboration on pilotless eVTOLs”. This included a purchase agreement for what EHang described as the “first batch” of 30 aircraft, for which full payment has been received.
Under the agreement, both parties will work to establish a R&D and manufacturing base in Shandong, alongside developing a “low-altitude economy industrial park in the region”. By “planning and launching comprehensive low-altitude cultural tourism flight routes” within the Zone, the pair also hope to drive the development of low-altitude tourism, with EHang assisting Weihai High-Tech Zone Cultural and Tourism Industry Investment in preparations for applying for its AOC.
As highlighted in its November three-year action plan, Shangdong province aims to commercialised passenger-carrying aircraft by 227, with the establishment of 400 digital low-altitude aircraft takeoff and landing platforms offering over 50 intra-city fligh troutes.
EHang chief operating officer Zhao Wang concluded that the company’s “EH216 series products are in high demand across a range of industries, including tourism, emergency response, logistics, and firefighting” – concluding that “the implementation of EHang’s UAM solutions in Weihai will infuse fresh momentum into the city’s urban development”.
