EHang and Eve End Year with Fresh Funding
New share issues and lines of credit were announced last week of 2022 as both companies manage the cost of bringing electric aircraft to market.
rendering of EHang EH216 eVTOL in flight
EHang is developing the EH216 as part of a family of autonomous eVTOL aircraft. (Photo: EHang)

Two publicly-owned eVTOL developers bolstered their financial foundations in separate agreements valued potentially at more than $110 million. Transactions involving China’s EHang and Eve Air Mobility—in which Brazilian aerospace group Embraer is the majority shareholder—were both announced on December 23.

EHang is being boosted by a $10 million equity investment from Qingdao West Coast New Area. The organization, which is one of China’s government-backed “national new areas,” further agreed to a potential additional $10 million investment in the future. EHang says it will use the funds as working capital. The investment in EHang is expected to close during the first quarter of 2023.