TSUKUBA CITY, Japan - EHang Holdings Limited (NASDAQ:EH), a global urban air mobility (UAM) technology company, has announced the establishment of Japan's inaugural UAM Center in Tsukuba City, Ibaraki Prefecture. The facility, which was unveiled during an event attended by Tsukuba City Mayor Tatsuo Igarashi, will function as a hub for demonstration flights, ground services, and maintenance of EHang's autonomous electric vertical takeoff and landing (eVTOL) aircraft, including the EH216-S model.
The UAM Center represents a significant step in Japan's advanced air mobility industry and includes hangars capable of accommodating around 25 EH216-S aircraft. With a shared landing platform for helicopters and eVTOLs, the center spans approximately 30,000 square meters. It is situated at the former Helicopter Control and Command Center owned by the Ibaraki Prefectural Government.
The center's creation stems from a strategic partnership between EHang and AirX Inc., a leading Japanese air mobility digital platform company. AirX, in collaboration with Tsukuba Airlines, aims to cater to the evolving needs of next-generation air mobility, which includes pilotless eVTOL aircraft, helicopters, and private jets.
During the center's inauguration, the EH216-S completed its maiden flight in Japan's Kanto region, showcasing its capabilities for applications such as aerial sightseeing, island transportation, aerial logistics, and emergency services. EHang has conducted successful flights across 12 cities in Japan with the EH216-S, emphasizing its versatility.
EHang's founder, chairman, and CEO, Huazhi Hu, celebrated the UAM Center's opening as a key milestone in bringing innovative transportation closer to the public. The company's participation in Japan's Public-Private Committee for Advanced Air Mobility as the sole pilotless eVTOL provider among 56 members highlights its role in Japan's air transportation initiatives.
Tezuka Kiwamu, Founder and CEO of AirX, expressed intentions to offer aerial sightseeing services with the EH216-S at the UAM Center and plans to establish additional centers in Tokyo, reinforcing their commitment to advancing UAM and transforming transportation in Japan.
The EH216-S, EHang's flagship product, has received the world's first type certificate and standard airworthiness certificate for pilotless eVTOL from the Civil Aviation Administration of China in 2023.
This article is based on a press release statement from EHang Holdings Limited.
InvestingPro Insights
As EHang Holdings Limited (NASDAQ:EH) takes a leap forward in the urban air mobility space with the launch of Japan's first UAM Center, investors and industry enthusiasts are closely monitoring the company's financial health and market performance. According to InvestingPro data, EHang's market capitalization stands at a solid 984.79 million USD, reflecting the market's optimism about the company's future prospects.
InvestingPro Tips highlight that EHang's balance sheet is robust, with cash reserves surpassing its debt, which is a reassuring sign for stakeholders concerned about the company's financial stability. Moreover, analysts are forecasting sales growth in the current year, which could be indicative of EHang's potential to capitalize on the burgeoning demand for UAM solutions.
Despite not being profitable over the last twelve months, EHang boasts an impressive gross profit margin of 64.13%, according to the latest data. This suggests that while the company is still in the investment phase of its business cycle, it is efficient in its operations, a critical factor for long-term success in the technology sector. Additionally, the stock has experienced a significant return over the last week, with a 15.81% price total return, and an even more remarkable return over the last month at 71.32%, signaling strong investor confidence.
For those interested in delving deeper into EHang's financial metrics and gaining more InvestingPro Tips, including insights into the stock's price volatility and valuation multiples, a visit to Investing.com/pro/EH is recommended. There are 12 additional InvestingPro Tips available, which can provide a comprehensive understanding of the company's market position. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research tools.
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