EHang and Enpower Form Strategic Partnership for Advanced eVTOL Integrated Electric Motor Drive Systems

GUANGZHOU, China, Nov. 11, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading Urban Air Mobility ("UAM") technology platform company, today announced a long-term strategic partnership and technology development cooperation with Zhuhai Enpower Electric Co., Ltd. ("Enpower", SZ300681), a pioneer in new energy vehicle ("NEV") power systems, to co-develop high-performance electric motors and motor controllers for EHang's suite of electric vertical take-off and landing ("eVTOL") aircraft.

(Photo: Signing Ceremony of Strategic Partnership and Technology Development Cooperation Agreements between EHang and Enpower)

The collaboration will focus on creating customized electric motor drive systems that meet the unique specifications of EHang's diverse eVTOL products and the rigorous airworthiness requirements of civil aviation authorities. Enpower's state-of-the-art "integrated core" technology will be instrumental in refining the motor solutions of EHang eVTOLs, targeting an integrated design of electric motors and motor controllers with lighter weight, higher power density, superior cooling performance, and broader compatibility across EHang's eVTOL models. This strategic move is set to elevate the performance and reliability of EHang's eVTOL fleet, addressing the industry's evolving needs.

"Enpower is thrilled to join forces with EHang, a true pioneer in the eVTOL sector," said Mr. Guibin Jiang, Chairman of Enpower. "By combining our nearly two decades of expertise in electric power systems with EHang's leadership in intelligent eVTOL, we are poised to innovate and industrialize top-tier motor solutions, propelling the UAM industry to new heights."

Mr. Huazhi Hu, EHang's Founder, Chairman and Chief Executive Officer, commented, "At EHang, we are committed to realizing urban air mobility. This strategic partnership with Enpower not only validates our vision but also provides the necessary impetus for our goals. Together, we will redefine the future of transportation, making it safer, more efficient, and environmentally friendly. We look forward to the collaboration with more partners from upstream and downstream in the UAM sector and the achievements that lie ahead."

About EHang

EHang (NASDAQ:EH) is the world's leading urban air mobility ("UAM") technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle ("UAV") systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang's flagship product EH216-S has obtained the world's first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.

About Enpower

Established in 2005, Zhuhai Enpower Electric Co., Ltd. is a leading NEV power system provider, listed on the ChiNext Market of Shenzhen Stock Exchange (stock code: 300681). Known for its innovative "integrated core" technology, Enpower partners with major automotive and component groups worldwide, offering products that are efficient, lightweight, and cost-effective. For more information, please visit www.enpower.com.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Statements that are not historical facts, including statements about management's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause EHang's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Media Contact: [email protected]

Investor Contact: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/04da94bf-6c3b-44f2-940f-ed20e6218b47