EHang reports strong 2024 preliminary revenues, surpassing expectations
China-based electric vertical take-off and landing (eVTOL) aircraft manufacturer, EHang, has announced its preliminary revenue results for the fourth quarter (Q4) and fiscal year ended 31 December 2024.
The company exceeded its prior revenue guidance, demonstrating robust growth driven by strong market demand and operational milestones.
Preliminary revenues for Q4 2024 are expected to reach $22.19 million (RMB 162 million), surpassing EHang’s guidance of $18.49 million by 20%.
This represents a year-on-year increase of 187% compared to $7.7 million (RMB 56.6 million) in Q4 2023.
For the full fiscal year 2024, total revenues are anticipated to reach $62 million (RMB 454 million), representing a 6% rise over the guidance of $58.5 million (RMB 427 million) and an impressive 287% growth from $16 million (RMB 117.4 million) in 2023.
EHang attributes its strong financial performance to the increasing demand for its flagship EH216-S pilotless passenger-carrying aerial vehicles, continued progress in urban air mobility solutions, and partnerships that solidify its leadership in the advanced air mobility (AAM) sector.
Q3 and 2024 highlights
In the third quarter of 2024, the company reported record-breaking deliveries and revenues, delivering 63 units of the EH216-S and generating $17.5 million (RMB 128 million) in revenue.
It also became the first eVTOL manufacturer to secure three airworthiness certificates for its autonomous passenger-carrying aircraft.
Furthermore, EHang’s efforts have been recognised globally, as the company topped the December 2024 AAM Reality Index published by SMG Consulting.
The index evaluates companies on metrics such as funding, technology readiness, certification progress, and production capabilities.
EHang’s first-place ranking underscores its dominant position in the Chinese market and its increasing global footprint, evidenced by the delivery of 138 EH216-S multicopters by November 2024.
Global Expansion
Moreover, EHang has taken strategic steps to expand its global presence.
Earlier in 2024, the company signed a trilateral agreement with the Abu Dhabi Investment Office (ADIO) and Multi Level Group (MLG) during the DRIFTx event in Abu Dhabi.
As part of the agreement, EHang will establish its regional headquarters in Abu Dhabi, laying the groundwork for the deployment of its eVTOL aircraft across the UAE and surrounding regions.
In addition, the company successfully conducted the first autonomous air taxi flight of its EH216-S pilotless eVTOL aircraft in Mecca, Saudi Arabia.
Separately, the EH216-S achieved another breakthrough in Abu Dhabi with its first passenger-carrying demo flight, a pioneering moment for urban air mobility in the UAE and the Middle East.
EHang also showcased the versatility of its eVTOL technology in the UAE with the debut flights of the EH216-F, developed for high-rise firefighting, and the EH216-L, designed for aerial logistics, demonstrating a diverse range of applications for its pilotless eVTOL aircraft.