- EHang Holdings Ltd (NASDAQ:EH) has received an initial purchase order for five units of EH216 AAVs from Tianxingjian Cultural Tourism Investment and Development LLC, an affiliated enterprise of the Jishou city government in Hunan province, China. Financial terms were not disclosed.
- The two parties plan to develop a scenic flight project at the Aizhai Wonder Tourist Area in Jishou.
- Tianxingjian plans to purchase additional 25 units of EH216 as the project evolves. It is an implementation of EHang's previous strategic partnership with the Jishou city government for in-depth and extensive collaborations on urban air mobility (UAM).
- Xin Fang, Chief Operating Officer of EHang, commented, "We believe with our business expansion, EH216 AAVs will fly in more scenic spots around the world, bringing tourists safe and comfortable aerial sightseeing experiences."
- Price Action: EH shares are trading higher by 5.47% at $9.86 on the last check Tuesday.
