EHang secures $150 million in additional air taxi and AAM funding
Developer of the autonomous air taxi and advanced air mobility (AAM) vehicle EH216S, EHang, has struck a long-term partnership with the Guangzhou Branch of the Agricultural Bank of China, bringing with it a credit line of nearly $150 million.
EHang said the agreement involves Guangzhou Branch of the Agricultural Bank of China providing a comprehensive range of banking services for its future air taxi and other AAM activities, including $149 million in “indicative credit facilities” as it works toward launching services. The deal with the Guangzhou Branch – ranked solidly within the world’s top 10 commercial banks in most lists – is intended to secure sufficient financing for EHang’s research and development, testing, certification, manufacturing, sales, and operation of the EH216S for passenger transportation.
Addition of that sizeable financial ballast may help quell occasional jitters markets and observers have experienced about