EHang Private Placement $23 Million


Project GOF 2.0, long range passenger droneAAV Chief EHang Publicizes $23M Personal Placement Led by South Korean Entrepreneur Lee Soo Man

by DRONELIFE Workers Author Ian M. Crosby

Autonomous aerial car (“AAV”) expertise platform chief EHang Holdings has introduced its entry into share subscription agreements for a complete of US$23,000,000 personal placement with a number of strategic traders led by South Korean document producer and SM Leisure founder Lee Soo Man.

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EHang will obtain a deposit of 80% of the combination buy value for the proposed placement from the traders, with the transaction anticipated to shut within the third quarter of 2023. Along with the personal placement, Mr. Lee Soo Man will collaborate with EHang to advance the event of City Air Mobility in Asian Pacific areas by using the strengths of each events.

drone taxisEHang will put the gross proceeds from the location in direction of working capital and basic company functions, permitting for the acceleration of strategic plans for expertise development, enterprise improvement and post-certification business operations. These developments will allow EHang to cement its place as a frontrunner within the world UAM trade.

“I used to be impressed by Mr. Lee’s curiosity and fervour in direction of progressive applied sciences, future air mobility, and our autonomous aerial autos,” stated EHang Founder, Chairman and CEO Huazhi Hu. “We’re thrilled to have long-term strategic traders and companions, similar to Mr. Lee, who share the identical values and dedication in our journey. The location and partnership are testaments to the belief and perception in EHang’s imaginative and prescient and prospects, propelling the Firm into our subsequent section of development.”

“I respect EHang’s unwavering dedication to enabling protected, autonomous and eco-friendly air mobility for most of the people, as the primary mover and a number one innovator within the rising UAM trade with nice potential,” stated Lee Soo Man. “I’m excited to embrace alternatives and contribute to its development by investing and collaborating with EHang as a long-term investor. I sit up for the convergence of cutting-edge transportation applied sciences and standard tradition to create sustainable worth, and I’m proud to be a part of it.”

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Ian attended Dominican College of California, the place he acquired a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in expertise, he’s now contributing to DroneLife as a workers author.

 



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