Chinese language AAM Chief Demonstrates Confidence with New UAM Facility in Hefei and Continued Progress Towards Mass Manufacturing of Passenger Drones
by DRONELIFE Employees Author Ian J. McNabb
Guangzhou-based superior air mobility firm EHang 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 bizarre shares over the subsequent 12 months.
This transfer alerts confidence for the Chinese language AAM developer, who lately introduced a brand new UAM (unmanned air mobility) middle at Luogang Central Park in Hefei, the capital of Anhui province. The ability, designed for 10-20 EH216-S unmanned passenger drones, consists of passenger ready, boarding, and ticketing areas, will even embrace instructional services for the local 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 yr.
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 repeatedly delivering worth to our shareholders. Trying forward, we stay targeted on advancing our management in offering secure, pilotless, and sustainable eVTOL options within the City Air Mobility sector, whereas sustaining a disciplined method 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 every now and then via open market transactions at prevailing market costs, in privately negotiated transactions, in block trades and/or via 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 Trade Act of 1934, as amended. The timing and quantity of any share repurchases beneath the Share Repurchase Program will probably be decided by the Firm’s administration at its discretion primarily based on ongoing assessments of value, buying and selling quantity and common market circumstances, together with the Firm’s working capital necessities, common enterprise circumstances and different components. 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 latest bulletins embrace profitable flight testing in Guangzhou and Hefei, making them a pacesetter within the Chinese language AAM house and an organization to look at as air taxis and different small plane start to enter international airspace.
Extra info on EHang is accessible right here.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, an expert drone companies market, and a fascinated observer of the rising drone business and the regulatory setting for drones. Miriam has penned over 3,000 articles targeted on the industrial drone house and is a world speaker and acknowledged determine within the business. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand new applied sciences.
For drone business consulting or writing, E mail Miriam.
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