Guangzhou, China, May 11, 2020 — EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world’s leading autonomous aerial vehicle (“AAV”) technology platform company, announced that it has entered a strategic partnership with LN Holdings (000524.SZ), a Shenzhen-listed tourism platform company, to further commercialize its AAVs by integrating Urban Air Mobility (“UAM”) solutions into the latter’s hotel/tourism businesses. This collaboration will not only broaden the use cases for AAVs, but will also expand the partnerships in the existing ecosystem. As one of the collaboration initiatives, the introduction of EHang 216 AAV services into LN Garden Hotel will make it the world’s first hotel to offer such services to its customers.
Senior executives from both companies attended a signing ceremony in Guangzhou on May 9, including Edward Xu, Chief Strategy Officer of EHang, and Feng Jing, Party Secretary and Chairman of LN Group. Representatives from major media organizations were also invited to take rides on EHang 216 AAVs onsite for aerial trips over the hotel. At dusk, an aerial light show was performed by EHang to celebrate the new partnership.
The partnership between EHang and LN Holdings will start with a pilot program at the LN Garden Hotel in Nansha, a coastal district in Guangzhou, to build the world’s first UAM theme hotel. The program will promote the innovative integration of aerial sightseeing, traveler transportation, air logistics, aerial media light shows, intelligent exhibitions and education. It will also promote the new experience of air tourism and explore other commercial use cases for EHang AAVs.
This cross-sector collaboration intends to set an example for integrated operation of air mobility solutions in the tourism industry, while also contributing to establishing Guangzhou as China’s first and the world’s leading UAM smart city and shaping the Guangdong-Hong Kong-Macao Greater Bay Area to be the best place to live, work and travel.
Hu Huazhi, Founder, Chairman and CEO of EHang, said, “We are excited to establish a comprehensive and long-term strategic partnership with LN Holdings. Helping to build Guangzhou into a global air mobility pilot city is a milestone for us, and further promotes the commercialization of the UAM ecosystem. Guests of LN Garden Hotel will experience our one-stop intelligent AAV services, including the unique aerial sightseeing, convenient and autonomous air deliveries and high-tech aerial light shows.”
Liang Lingfeng, General Manager of LN Group and Chairman of LN Holdings, commented, “We own a broad chain of resources in the tourism industry, covering travel, brand hotels, conventions, exhibitions and scenic attractions. By leveraging our controlling shareholder LN Group’s ability to integrate its resources in consumer sector, cooperating with EHang could generate incremental products and services. We can fulfill customers’ travel demands in the air and on the ground by combining intelligent technology with the tourist experience. Eventually, we will provide new products and services across different sectors, business categories and regions in the country.”
As a pioneer in the global UAM industry, EHang entered into a strategic agreement with Guangzhou Government in August 2019 to develop the world’s first UAM pilot city. In the future, tourists visiting Guangzhou can not only travel around landmarks such as the Canton Tower, Beijing Road and the Pearl River, but can also ride in an “air taxi” (the passenger-grade AAV) to enjoy the scenery of Guangzhou city from the air.
As other cutting-edge technologies such as 5G networks develop, AAV technology will gradually realize a market potential in the trillions of dollars. According to Morgan Stanley, the global UAM market should reach $1.5 trillion by 2040. The China market shows strong potential of $431 billion, accounting for almost 30% of the global UAM market.
EHang (NASDAQ: EH) is a 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 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 LN Holdings
LN Holdings (000524.SZ), subordinating enterprise of LN Group, is the operation integration platform, innovation development platform and capital operation platform of LN tourism industry, its market value ranks among top 10 of A-share listed tourist and hotel enterprises. It devotes to build international pan-tourism ecosystem with the core of consumption experiences covering travel, brand hotels, convention & exhibition operation, IP interactive entertainment, quality food, gourmet culture, global shopping guide, and leisure & health being. With the goal of “Enjoy Pleasant Journey, Create Quality Life”, LN Holdings is developing into a national leading, internationally well-known tourism brand operator with high credibility and consumer satisfaction.