Chinese language AAM Chief Demonstrates Confidence with New UAM Facility in Hefei and Continued Progress Towards Mass Manufacturing of Passenger Drones
by DRONELIFE Workers Author Ian J. McNabb
Guangzhou-based superior air mobility firm EHang just lately introduced that their board of administrators had pproved a Share Repurchase Program, pursuant to which the Firm could repurchase as much as US$30 million of its American Depositary Shares (“ADSs”) or extraordinary shares over the subsequent 12 months.
This transfer indicators confidence for the Chinese language AAM developer, who just lately introduced a brand new UAM (unmanned air mobility) middle at Luogang Central Park in Hefei, the capital of Anhui province. The power, designed for 10-20 EH216-S unmanned passenger drones, contains passenger ready, boarding, and ticketing areas, may even embody instructional amenities for the area people. It’s going to start operations after the Civil Aviation Authority of China points an working license, which is projected to be inside the subsequent 12 months.
Mr. Huazhi Hu, Founder, Chairman and CEO of EHang, commented, “This Share Repurchase Program underscores our confidence in EHang’s long-term development potential in addition to {our capability} in constantly delivering worth to our shareholders. Trying forward, we stay targeted on advancing our management in offering protected, pilotless, and sustainable eVTOL options within the City Air Mobility sector, whereas sustaining a disciplined strategy to capital allocation to make sure sustainable development and profitability.”
The press launch contained the next disclaimer, saying, “The Firm’s proposed repurchases could also be made sometimes by way of open market transactions at prevailing market costs, in privately negotiated transactions, in block trades and/or by way of different legally permissible means, relying in the marketplace circumstances and in accordance with relevant federal securities legal guidelines, together with Rule 10b5-1 and Rule 10b-18 of the Securities Alternate Act of 1934, as amended. The timing and quantity of any share repurchases beneath the Share Repurchase Program shall be decided by the Firm’s administration at its discretion based mostly on ongoing assessments of value, buying and selling quantity and normal market circumstances, together with the Firm’s working capital necessities, normal enterprise circumstances and different elements. The Firm expects to fund repurchases made beneath this program from its current money stability and money generated from operations.”
This spring, EHang introduced that that they had acquired permission from the civil air authority to start mass-production of their EH216-S AAM car. Different current bulletins embody profitable flight testing in Guangzhou and Hefei, making them a frontrunner within the Chinese language AAM area and an organization to observe as air taxis and different small plane start to enter world airspace.
Extra info on EHang is obtainable right here.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, an expert drone providers market, and a fascinated observer of the rising drone trade and the regulatory atmosphere for drones. Miriam has penned over 3,000 articles targeted on the business drone area and is a global speaker and acknowledged determine within the trade. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising and marketing for brand new applied sciences.
For drone trade consulting or writing, E-mail Miriam.
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