EHang Holdings Ltd. Sponsored ADR Class A (EH.US) announced that it has received over 22 million US dollars in PIPE investment from strategic investors such as Zhuhai Enpower Electric.

On November 14th, EHang Holdings Ltd. Sponsored ADR Class A (EH.US) announced that it has received a strategic investment totaling more than 22 million US dollars. Investors include China's leading new energy vehicle power system supplier Zhuhai Enpower Electric (300681.SZ) and an investment institution from the Middle East. Both investors have agreed to a lock-up period of 180 days. The strategic investment from Zhuhai Enpower Electric is based on their recent announcement of a long-term strategic cooperation and technical development agreement with EHang Holdings Ltd. Sponsored ADR Class A, aimed at jointly developing high-performance electric propulsion systems for EHang Holdings Ltd. Sponsored ADR Class A's electric vertical take-off and landing aircraft series. Furthermore, the strategic investment from the UAE investor reflects their optimism towards China's emerging low-altitude economy industry, as well as their confidence in EHang Holdings Ltd. Sponsored ADR Class A as a global eVTOL leader with growth potential. The UAE is one of the largest international markets for EHang Holdings Ltd. Sponsored ADR Class A, with 100 intended purchase orders already secured locally, five of which have been delivered. The investor will leverage their extensive financial and business network to assist EHang Holdings Ltd. Sponsored ADR Class A in its international expansion to other countries in the Middle East and Southeast Asia. Following this round of strategic investment, EHang Holdings Ltd. Sponsored ADR Class A has raised nearly 100 million US dollars so far this year, strengthening the company's financial position and supporting its next stage of development and growth in the global urban air mobility industry. The funding will be used to advance the company's next-generation eVTOL technology and product research and development, expand production, grow the team, establish new headquarters and operating sites, and support general company activities. Mr. Jason Tai, Chief Financial Officer of EHang Holdings Ltd. Sponsored ADR Class A, expressed his delight in announcing this round of strategic investment, which demonstrates investors' confidence in the vision, strength, and industry leadership of EHang Holdings Ltd. Sponsored ADR Class A. This will help the company seize the huge UAM market opportunity and accelerate its development. Additionally, the support from this round of strategic investors in the upstream industry chain and downstream international market exploration areas will help the company strengthen its competitive advantage. The company will continue to push the boundaries of innovation, safety, and sustainable development, striving to make urban air mobility accessible to people worldwide.