UAM tech company EHang secures 2-billion-yuan credit line from Bank of Guangzhou

Beijing (Gasgoo)- On March 21, urban air mobility (UAM) technology company EHang announced a strategic partnership with Bank of Guangzhou, securing an intentional credit line of 2 billion yuan. The collaboration aims to leverage both parties' strengths to drive the development of the low-altitude economy.

Signing ceremony; photo credit: EHang

Under this agreement, Bank of Guangzhou will provide EHang with comprehensive financial services, including but not limited to the 2-billion-yuan credit line, settlement and cash management, and supply chain financing. These resources will support EHang's advancements in R&D, manufacturing, sales, and operations within the low-altitude economy sector.

China is actively expanding its low-altitude economy, with various regions implementing initiatives to accelerate its growth. Guangzhou, in particular, is advancing its "12218" modern industrial system and has introduced 20 measures in 2024 to promote low-altitude economic development. The city has also announced 12 application scenarios for urban air mobility and aims to establish 100 regular takeoff and landing sites by 2027.

Additionally, EHang is actively building urban air mobility demonstration centers in Guangzhou, Shenzhen, Zhuhai, Hefei, Taiyuan, Wuxi, Weihai, and Wenzhou cities, contributing to the development of model cities for the low-altitude economy.