The 1 billion yuan ($149 million) funds from the Agricultural Bank (ABC) will support further research and development, production and operation of eVTOL devices.
“The strategic partnership with EHang is ABC Guangzhou Branch’s first partnership with technology company AAV in the emerging urban air mobility sector,” said Dalong Li, vice president of ABC Guangdong Branch and president of ABC Guangzhou Branch. “We strongly support the improvement of urban transportation and strive to provide quality financial services to high-tech enterprises in this field.
According to Huazhi Hu, the founder, chairman and chief executive officer of EHang, the allocated amount will further diversify the company’s financing channels and facilitate the company’s financial flexibility and liquidity.
