EHang Holdings Limited (Nasdaq: EH), the world's leading Urban Air Mobility (UAM) technology platform company, announced a strategic cooperation agreement with Chongqing Changan Automobile Co., Ltd., (Changan Automobile), government-owned and 2nd largest Chinese Automaker.

The pact was signed in the presence of the Chongqing Municipal Government and industry representatives. The collaboration focuses on research and development, manufacturing, sales, and operation of flying car products, including electric vertical takeoff and landing (eVTOL) aircraft and innovative flying cars.

By utilizing EHang's expertise in aerial vehicles and low-altitude flight management and Changan Automobile's robust production and market resources, the parties aim to establish a joint venture for future mobility ecosystem technologies. This cross-industry partnership will expand EHang'seVTOL product line, targeting a broad consumer base.

Changan Automobile, second largest automaker in China, boasts exceptional capabilities in R&D, manufacturing, supply chain, sales channels, and market influence. EHang, a UAM pioneer, leads the way in eVTOL aircraft design, production, certification, and operation.

This collaboration will see the development of flying cars with cutting-edge technologies, future-oriented design, and market competitiveness. The agreement encompasses R&D, production, market promotion, user experience, after-sales service, and integrating low-altitude economy applications to expedite the commercialization of flying cars and EHang'seVTOL products.