Technology company received a 700 million yuan loan for investment.

On November 7th, representatives of SkyTech, China Bank, Agricultural Bank, and Shanghai Bank signed a strategic agreement at the 8th China International Import Expo. SkyTech successfully secured a total of 700 million yuan in substantial credit from the three banks to jointly build a low-altitude economic ecosystem. Currently, the loans have been approved and entered the disbursement phase. It is reported that the credit funds will mainly be invested in three core areas: the construction of manufacturing plants to establish modern manufacturing bases that meet aviation standards and have large-scale production capacity, ensuring solid hardware foundations for future mass delivery. Certification breakthroughs, focusing on supporting the various tests, test flights, and compliance verification work of the E20 model under the supervision of the Civil Aviation Administration, which is a necessary step for the product to enter the market and the most intensive stage in terms of funding and technological requirements. Continuous research and development innovation, including pre-research on the E20 eVTOL model, the application of new materials and processes, and the iterative upgrade of core subsystem technologies, to ensure the company's leading position in the global eVTOL field.