EHang’s Q1 results show promising revenue growth despite COVID-19

EHang, the Chinese passenger drone company, went public last year by floating on the American NASDAQ Stock Market, and their first quarter results show promising growth despite the pandemic, reports

EHang (EH) announced that total revenues in Q1 2020 were RMB18.8 million (USD2.7 million), an increase of 80.3% year over year. Revenues from air mobility solutions were RMB15.1 million (USD2.1 million), 80.4% of the total revenues and up 256.0% year over year. Perhaps most importantly, the company announced that sales of the EHang 216, the world’s first commercially-delivered passenger-grade AAV, reached 9 units, an increase of 200% from 3 units in the first quarter of 2019.

While 9 units doesn’t yet represent a huge market, it does indicate that EHang has moved well beyond concept to performing trials around the world, an indication that passenger drones are on the cusp of wider adoption.

The company is also broadening it’s applications: in addition to emergency response operations revealed in the current crisis, EHang recently received certification from the Chinese government for cargo delivery trials.

Business Highlights

: In January 2020, the company achieved a new landmark, conducting the first-ever flight in the United States of a passenger-grade AAV. This was performed in the state of North Carolina. The AAV flight was underpinned by permit and other support from the North Carolina Department of Transportation (NCDOT) and the U.S. Federal Aviation Administration (FAA).