EHang Holdings Limited (Nasdaq: EH), a global pioneer in autonomous aerial vehicle (AAV) technology, has announced a groundbreaking partnership with Wencheng County in Zhejiang Province, China. This collaboration marks a significant milestone in developing China's low-altitude economy and urban air mobility (UAM) sector. With this agreement, Wencheng County joins other pioneering regions in China, such as Guangdong province and Beijing, in embracing eVTOL technology. Together, these forward-thinking initiatives are positioning China at the forefront of eVTOL technology adoption and implementation.
China’s low-altitude economy is projected to contribute between US$422 billion and US$700 billion to China’s economy by 2025. The low-altitude economy encompasses various industries focused on crewed and uncrewed civil aerial vehicles, with a strong integration with the artificial intelligence (AI) and power battery industries. Significant developments in low-altitude aviation are underway in various regions of China. For instance, tests are being conducted for drone prototypes in Hefei, Anhui Province, including commercial sightseeing and food-delivery drones.
The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is a dynamic region with major cities like Guangzhou, Shenzhen, Hong Kong, and Macau. As of the latest data, the GBA has over 86 million people. The region is a major economic powerhouse, with a GDP of approximately USD 1.88 trillion. The per capita GDP in this region is over USD 23,300, reflecting its high economic productivity and living standards, making the GBA one of the most economically significant areas in the world.
