EHang Announces Strategic Partnership with Agricultural Bank of China, “RMB 1 billion credit facilities”

EHang announced this week it has entered into a strate­gic part­ner­ship with the Agri­cul­tur­al Bank of Chi­na (ABC), Guangzhou Branch, that apart from com­pre­hen­sive bank­ing includes cred­it facil­i­ties of RMB1 bil­lion, reports a press release. RMB1 bil­lion is equiv­a­lent to around USD150 mil­lion.

This part­ner­ship with one of the world’s 10 largest com­mer­cial banks, offers impor­tant sup­port for the EHang’s long-term sus­tain­able busi­ness growth, cov­er­ing R&D, man­u­fac­tur­ing, as well as sales and oper­a­tions.

Huazhi Hu, Founder, Chair­man and CEO of EHang, com­ment­ed, “The RMB1 bil­lion cred­it will fur­ther diver­si­fy our fund­ing chan­nels and facil­i­tate our finan­cial flex­i­bil­i­ty and liq­uid­i­ty to sup­port the con­tin­u­ous exe­cu­tion of our strate­gic plans and dri­ve our growth momen­tum in the long run.”

Dalong Li, Pres­i­dent of ABC Guang­dong Branch added, “This part­ner­ship is our first with an AAV tech­nol­o­gy com­pa­ny. We strong­ly sup­port the improve­ment of the urban trans­porta­tion and are com­mit­ted to pro­vid­ing high-qual­i­ty finan­cial ser­vices to high-tech enter­pris­es in this field.”

He con­tin­ued, “The part­ner­ship also demon­strates our deter­mi­na­tion to active­ly imple­ment China’s 14th Five-Year Plan and sup­port the devel­op­ment of strate­gic emerg­ing indus­tries.”

For more infor­ma­tion

https://www.ehang.com/