The world's leading urban air mobility technology platform company, EHang Holdings Limited, reported robust operational and financial metrics growth in the second quarter of 2024. [Photo provided to chinadaily.com.cn]

EHang Holdings Limited, the world's leading urban air mobility technology platform companies, reported another quarter of robust growth in operational and financial metrics, according to the company's unaudited financial results for the second quarter of 2024.

The company sold 49 units of its flagship EH216-S in the second quarter, the highest quarterly delivery volume in its history, compared with only five units in the second quarter of 2023 and 26 units in the first quarter of 2024, according to the financial results.

Additionally, the company's total revenues reached a record high of 102 million yuan ($14 million) in the quarter, representing an increase of 919.6 percent compared to the second quarter of 2023.

"The obtainment of three certifications for the EH216-S, which enables us to expedite production and deliveries, together with enhanced government initiatives for advancing the low-altitude economy, have led to a substantial increase in demands and orders from various domestic and international customers, including governments and tourism operators," said Hu Huazhi, founder, chairman and CEO of EHang.

EHang obtained the world's first-of-its-kind Production Certificate issued by the Civil Aviation Administration of China for the company's self-developed EH216-S passenger-carrying pilotless electric vertical takeoff and landing, or eVTOL, aircraft in April 2024, following its approval of the Type Certificate and the Standard Airworthiness Certificate.

The certification allows EHang to mass produce the EH216-S at its production facility in Yunfu, Guangdong province.

"Leveraging our reliable production capabilities and quality management system, we have steadily increased production to meet the demands of expanding orders and customer delivery requirements," said Hu.

The Nasdaq-listed company's global expansion was also gaining momentum with the extension of its partnership network in the Middle East and the successful debut flights of its pilotless eVTOLs in the United Arab Emirates and Saudi Arabia in the second quarter.

With an integrated business strategy of sales and operations, the Guangzhou-based company also made progress in fast-tracking UAM commercial operation preparations for its customers after sales regarding personnel training, infrastructure development, operation standards and certification.

The CAAC has formally accepted the Air Operator Certificate applications submitted by Guangdong EHang General Aviation Co Ltd, its wholly owned subsidiary, and Hefei Heyi Aviation Co Ltd, its joint venture in Anhui province, according to Hu.

"Our customers and partners across the country are also actively preparing for the AOC applications, with goals for accelerating the launch of commercial EH216-S operations and low-altitude economy demonstration projects across local cities," said Hu.

China's low-altitude economy is entering a rapid growth phase, offering people more excitement in the skies and bringing convenience through innovative aerial vehicle applications.

A report from Morgan Stanley has forecast that the global urban air mobility market will be worth $1 trillion by 2040 and $9 trillion by 2050.

Source: chinadaily.com.cn | https://www.chinadaily.com.cn/a/202408/23/WS66c86c0aa31060630b924b14.html