EHang is partnering with the Guangzhou Branch of the Agricultural Bank of China (ABC Guangzhou Branch).
It will provide banking services to support EHang’s operations in China. The support includes indicative credit facilities of RMB1 billion, as well as assisting with R&D, manufacturing, sales and more.
“The RMB1 billion indicative facilities for cooperation 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,” explains Huazhi Hu, Founder, Chairman and CEO of EHang.
According to Dalong Li, Vice President of ABC Guangdong Branch and President of ABC Guangzhou Branch, the partnership will “…actively implement China’s 14th Five-Year Plan and support the development of strategic emerging industries.”
Recently, the Civil Aviation Administration of China (CAAC) released its 14th Five-Year Plan for General Aviation Development.
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