Electric vertical take-off and landing (eVTOL) aircraft maker EHang Holdings Ltd. (EH.US) announced on Friday it will partner in several areas with the Management Committee of the Torch High-Tech Industrial Development Zone in Shandong province’s city of Weihai. The two sides plan to establish an R&D and manufacturing base in Shandong, positioning it as EHang’s regional production center.
The pair will also jointly develop a low-altitude economy industrial park, integrating local industries such as those engaged in the low-altitude economy and cultural tourism. The initiative aims to accelerate development and concentration of the low-altitude economy in the Weihai High-Tech Zone. The partnership also includes plans for commercial operation of low-altitude tourism services that combine scenic sightseeing with technological experiences.
As part of the collaboration, EHang also agreed to sell Weihai High-Tech Zone Cultural and Tourism Industry Investment Co. Ltd. 30 EH216-S pilotless passenger eVTOLs, and has completed full payment for the order.
EHang’s stock closed down 1.32% at $16.03 on Friday.
By Lee Shih Ta
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