|Bid||41.25 x 800|
|Ask||40.65 x 1400|
|Day's Range||39.00 - 51.39|
|52 Week Range||7.59 - 51.40|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.00|
In Wednesday trading, shares of the Chinese manufacturer of electric drones were flying 19.4% higher as of 11:05 a.m. EST, capping a three-day winning streak that has seen its market cap rise roughly 50%. A Chinese company thinks it can build them. It would appear that what we're seeing is simply a continuation of the momentum from yesterday's announcement of a successful demonstration of EHang's autonomous aerial vehicles (AAVs).
As Tuesday morning turns into Tuesday afternoon, stock market investors remain enthusiastic about electric vehicles. As of 12:50 p.m. EST, shares of Chinese Li Auto electric car maker Li Auto (NASDAQ: LI) are up 8.6% and ElectraMeccanica Vehicles (NASDAQ: SOLO) -- which makes a three-wheeled electric car in China for sale in America -- is up 10.3%. Beating both of these better-known stocks, though, is a small-cap maker of "autonomous aerial vehicles" -- flying electric cars -- called EHang Holdings (NASDAQ: EH).
EHang to Provide UAM Services in Hengqin New Area in Zhuhai, China Multiple EH216 AAVs conducting simultaneous passenger-carrying flights in Hengqin EHang to Provide UAM Services in Hengqin New Area in Zhuhai, China Multiple EH216 AAVs conducting simultaneous passenger-carrying flights in Hengqin EHang to Provide UAM Services in Hengqin New Area in Zhuhai, China Multiple EH216 AAVs conducting simultaneous passenger-carrying flights in HengqinGUANGZHOU, China, Jan. 12, 2021 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world's leading autonomous aerial vehicle (“AAV”) technology platform company, announced strategic partnerships with Zhuhai Da Heng Qin Pan-Tourism Development Co., Ltd., Zhuhai Huafa Sports Operations Management Co., Ltd. and Flying World (Zhuhai) Technology Co., Ltd. to jointly initiate Urban Air Mobility (“UAM”) operations for aerial sightseeing and other air mobility services in the Hengqin New Area, the largest island and a Free Trade Zone in southeast Zhuhai in Guangdong Province of China. By establishing AAV experience centers and a suite of supporting service systems, EHang AAVs will be integrated into the daily life of the local population. During a signing ceremony held on January 8, a fleet of EH216 AAVs made passenger-carrying flights in Tianqin Park on Hengqin New Area. The flights were seen by local government officials, enterprise representatives, the media and local residents. A total of 36 passengers flew in the autonomous EH216, enjoying safe and comfortable aerial sightseeing trips. Through this event, EHang fully demonstrated its leading-edge technology for the centralized management of simultaneous flights of multiple AAVs in distributed operations under the command-and-control systems.Li Weihui, Deputy Secretary of the Hengqin New Area, said, “We warmly welcome the arrival of EHang passenger-grade AAVs to Hengqin. We believe this new style of intelligent air mobility will have more and better uses and will flourish in our beautiful Hengqin New Area.” Resting on the west bank of the Pearl River estuary, the Hengqin New Area is regarded as the core of Pearl River Delta and boasts a unique geographical location adjacent to Hong Kong and Macau. With an advantageous geographical location, pleasant natural scenery and rich tourism resources, it boasts favorable conditions and market demand for the development of short- and medium-haul urban air transportation. According to the Outline of the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area and the Overall Development Plan of Hengqin issued by the State Council of the People's Republic of China, Hengqin will become a demonstration area for in-depth cooperation among Guangdong, Hong Kong and Macao and an international leisure and tourism destination suitable for living, working and travel, accelerating the integrated development of tourism in the Guangdong-Hong Kong-Macao Greater Bay Area. Lu Ting, CEO of Flying World (Zhuhai) Technology Co., Ltd., commented, “We are excited to cooperate with EHang and other strategic partners. By leveraging EHang’s world’s leading AAV technology and strong support from local government, we see promising market development potential and are confident that we can integrate air mobility services into the leisure and tourism industry in Hengqin. We believe this effort can gradually expand across the Guangdong-Hong Kong-Macao Greater Bay Area to form synergistic operations and development.”Watch the video of EH216 AAVs conducting passenger-carrying flights in Hengqin: https://youtu.be/r8HiyGn7VF4About EHang EHang (Nasdaq: EH) is the world's leading autonomous aerial vehicle (AAV) technology platform company. Our mission is to make safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with AAV products and commercial solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. As the forerunner of cutting-edge AAV technologies and commercial solutions in the global Urban Air Mobility (UAM) industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.About Zhuhai Da Heng Qin Pan-Tourism Development Co., Ltd. Zhuhai Da Heng Qin Pan-Tourism Development Co., Ltd. is the integrator of tourism resources in Hengqin New Area. Adhering to the mission of making life better, and taking on the responsibility for development of the tourism resources in Hengqin Island and construction of the Hengqin tourism brand, works as an important facilitator to government for construction of the international leisure tourism island in China, and an integrated service provider of the pan-smart tourism industry in the world. We are doing our best to promote and deepen the regional tourism cooperation between Guangdong and Macao, cooperate with Macao in construction of the world tourism and leisure center, and build Hengqin into an international leisure tourism island at a higher level.About Zhuhai Huafa Sports Operations Management Co., Ltd. Located in the center of Hengqin, Huafa Sports Operations Management Co., Ltd. was established in 2013 under Huafa Group. Tournament-oriented, Huafa Sports operates three tennis events including WTA Elite Trophy Zhuhai, Zhuhai Open and Australian Open Wildcard Play-off as well as venue management like advertising management, venue leasing and tennis training. With its aim to building the biggest sports operation platform in South China, Huafa Sport helps promoting the living standard of Zhuhai citizens and the development of regional sports industry.Safe Harbor Statement This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause EHang's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.Media Contact: email@example.comInvestor Contact: firstname.lastname@example.org In the U.S.: Julia@blueshirtgroup.com In China: Susie@blueshirtgroup.comPhotos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f210fb0-d7cf-47b2-a007-cdb6e7ac76cahttps://www.globenewswire.com/NewsRoom/AttachmentNg/b52e47cc-e05c-4bff-afeb-f8a6c6198e95https://www.globenewswire.com/NewsRoom/AttachmentNg/0e28d91b-54ec-475d-a361-be30ee26e8e5