EHang Forms Strategic Cooperation with the Management Committee of Guangzhou Airport Economic Zone, Guangzhou Development District Administrative Committee, and GAC Group to Scale Up New Quality Productivity and Promote High-Quality Development for Guangz

GUANGZHOU, China, Feb. 06, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading urban air mobility (“UAM”) technology platform company, announced that it has signed a strategic cooperation agreement (the “Agreement”) with the Management Committee of Guangzhou Airport Economic Zone, the Administrative Committee of Guangzhou Economic and Technological Development District ("Guangzhou Development District Administrative Committee"), and Guangzhou Automobile Group Co., Ltd. (601238.SH, 02238.HK, "GAC Group"). All parties will fully leverage their respective strengths and resources to jointly create a robust low-altitude industry ecosystem, which will contribute to Guangzhou's leadership in the trillion-dollar low-altitude sector and facilitate the high-quality development of the low-altitude economy.

(The strategic cooperation among Guangzhou Government Agencies, GAC Group and EHang)

According to the Agreement, GAC Group and EHang will join forces in research and development, production, sales, and other areas to strengthen the low-altitude market. GAC Group is set to fully capitalize on its extensive expertise in smart manufacturing and its well-structured industrial chain to accelerate the production, adoption and market expansion for EHang’s passenger-carrying unmanned aerial vehicles (“UAVs”). Meanwhile, EHang will maximize its expertise in developing and integrating passenger-carrying UAVs to support the development of GAC Group’s flying cars. The joint effort will be dedicated to accelerating the layout of the low-altitude industry in Guangzhou, injecting strong momentum into the rapid growth of Guangzhou's low-altitude industry.

The Management Committee of Guangzhou Airport Economic Zone and the Guangzhou Development District Administrative Committee will initially focus on airspace management, infrastructure development and policy support to carry out the delineation of low-altitude airspace and air routes, establish low-altitude flight service stations, and promote deep cooperation between the government and enterprises. The initiative will provide support to EHang and GAC Group for their technology research and development, production, and promotion for product applications in Guangzhou.