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ABU DHABI, United Arab Emirates, April 26, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") technology platform company, today announced that the Company is partnering with the leading fintech group in the MENA region Multi Level Group ("MLG") and the Abu Dhabi Investment Office ("ADIO") to drive eVTOL development in the UAE and beyond. During Abu Dhabi's inaugural DRIFTx event, a global platform to discuss and engage innovations that will shape the future of mobility, ADIO and MLG signed a trilateral agreement with EHang.
EHang is looking to set up their regional headquarters in Abu Dhabi to promote business activities with local partners including manufacturing, flight operations, research and development, training and Maintenance, Repair, and Overhaul ("MRO") facilities.
ADIO will be providing EHang with a comprehensive range of growth-enabling support, including providing data and information related to establishing and operating a manufacturing and industrial services business in Abu Dhabi; setting up enablement and links with the Abu Dhabi ecosystem and international trade opportunities.
Badr Al-Olama, Director General of Abu Dhabi Investment Office (ADIO), said: "ADIO continues to work with leading global players to accelerate the adoption of smart and autonomous vehicles across air, land and sea. Our collaboration with Multi Level Group, and air mobility leaders such as EHang, will play a key role in driving Abu Dhabi's efforts in promoting eVTOLs to transform the way people and goods are transported and in advancing the future of mobility globally."
EHang (NASDAQ:EH) is one of the world's leading urban air mobility (UAM) technology platform companies. It provides customers in various industries with pilotless eVTOL aircraft and unmanned aerial vehicle (UAV) systems and solutions. EHang's EH216-S has obtained the world's first type certificate, production certificate and standard airworthiness certificate for passenger-carrying pilotless eVTOL aircraft issued by the Civil Aviation Administration of China.
Mr. Abdul Jabbar Al Sayegh, Chairman of Multi Level Group (MLG) expressed enthusiasm about the groundbreaking collaboration between MLG, ADIO and global leader EHang, aimed at driving forward the future of autonomous aerial vehicles development.
He said: "This partnership marks a significant milestone in our collective efforts to revolutionise the way people and goods are transported. By joining forces with EHang, a pioneer in urban air mobility technology, and with the support of ADIO, we are poised to establish Abu Dhabi as a hub for the advancement of eVTOLs and unmanned aerial vehicles. It underscores MLG's dedication to driving forward innovation and shaping the future of mobility in the UAE and beyond."
Mr. Huazhi Hu, Founder, CEO and Chairman of EHang, said: "Abu Dhabi is at the forefront of the innovative technologies, and offers one of the best ecosystems globally for UAM solutions. We are thrilled to have MLG and ADIO as our partners to bring our eVTOLs and expand our footprint into the MENA region. EHang remains steadfast in shaping the future of air transportation and contributing to Abu Dhabi's journey towards becoming a global leader in the UAM sector."
SAVI supports the innovation and the commercialisation of smart and autonomous vehicle technologies in the UAE by providing state-of-the art facilities and value-added services within an enabling regulatory environment. The cluster is located in Abu Dhabi's Masdar City and will include R&D labs. It will utilise the existing infrastructure within Abu Dhabi for testing and certification, large scale workshops, hangars and manufacturing facilities, which is connected through Abu Dhabi's global logistics network.
Supported by ADIO and SAVI, Abu Dhabi's inaugural DRIFTx is an international platform and exhibition to showcase the latest in advanced urban mobility applications across air, land, and sea. Being held from 25-26 April 2024 at Yas Marina Circuit, the event features engaging discussions, a never-before-seen display of flying taxis, driverless cars, and autonomous boats, and one-of-a-kind experiences.
Posted In: EH
