Chinese language autonomous air mobility firm EHang has filed with the SEC the paperwork required to go public within the U.S. on the NASDAQ change, with a $100 million preliminary public providing. The corporate, which has been flying demonstration flights with passengers on board for some time now, is gearing as much as launch its first business service in Guangzhou after getting approval from local and national regulators to deploy its drones in the area.
At launch, EHang shall be utilizing its two-seater vertical take-off and touchdown craft (VTOL), which has room for 2 passengers on board. EHang doesn’t simply construct the plane, although – its aim is to construct full, multi-aircraft (as many as ‘hundreds,’ in response to Forbes) autonomous transportation networks that it hopes will serve to alleviate and keep away from congested floor visitors. Guangzhou, with an estimated inhabitants of over 13 million, suffers from appreciable visitors.
EHang can also be constructing out logistics and cargo transportation capabilities in addition to passenger providers. The corporate believes it may affords brief designate cross-city transportation that may reduce down on time by as a lot as 40 to 60 p.c, and as soon as it achieves scale, it additionally says that prices have the potential to be diminished by as a lot as 50 p.c.
Based in 2014, EHang final introduced funding in 2015, when It raised $42 million in a Sequence B spherical led by GP Capital, with GGV Capital, ZhenFund, Lebox Capital, OFC and PreAngel additionally taking part.