On October 13, EHang (EH.US) held a new product launch event in Hefei, unveiling its next-generation unmanned passenger aerial vehicle VT35, with a Chinese market pre-sale price (standard version) of no less than 6.5 million yuan. EHang's Chief Operating Officer Wang Zhao stated that the VT35's components, configuration, and various component combinations were all designed according to airworthiness certification standards, so the product's price will not change significantly in the short term due to airworthiness factors. He believes this pricing is highly competitive in the market while also generating profits for the company.
The VT35 is EHang's self-developed next-generation compound-wing unmanned passenger electric vertical takeoff and landing aircraft, primarily targeting medium and long-distance air traffic scenarios such as inter-city, cross-sea, and cross-mountain routes. It meets the demand for safe and efficient travel within cities and between cities, providing passengers with more efficient, environmentally friendly, and economically convenient air transportation solutions.
The VT35 features 2 seats with a fully loaded range of 200 kilometers, far exceeding the previous flagship EH216 series. According to EHang Senior Vice President Feng Shuai, the two-seat design results in lower per-unit production costs, higher seat utilization rates, and improved operational efficiency. Additionally, compared to the EH216-S, the VT35's fuselage width and length only increased by about two meters, allowing direct reuse of EH216-S landing sites.
The VT35 released this time is a compound-wing version, and EHang has also developed a tilt-rotor configuration version of the VT35, with test prototypes already available. Wang Zhao revealed that they launched the compound-wing version first mainly because the previous VT30 was compound-wing, and the VT35 is an upgrade based on this foundation with more mature technology. The tilt-rotor development progresses relatively slowly due to the absence of a previous generation product.
He also stated that although the company has obtained an Operating Certificate (OC) and has certified operational qualifications, the company still hopes to proceed "slowly" to further accumulate safety and control experience to ensure maximum safety. Regarding new product certification progress, Feng Shuai mentioned that in March 2025, the Civil Aviation Administration of China accepted EHang's Type Certificate (TC) application for the VT35 unmanned passenger aircraft. The new product aims to complete certification within approximately two years.
XPeng's flying car has also achieved significant progress, with XPeng HT's "Land Aircraft Carrier" being eagerly ordered by Middle Eastern buyers. On October 12 local time, XPeng HT successfully completed its first overseas manned public flight demonstration at the "Land Aircraft Carrier" international tasting event held in Dubai. At this event, XPeng HT announced the new international brand "ARIDGE" and announced that the flying car manufacturing base in Guangzhou has been fully completed, preparing for mass production and delivery of the "Land Aircraft Carrier" in 2026.
Simultaneously, XPeng HT signed purchase agreements for the first batch of 600 flying cars with multiple groups in the Middle East region, planning to enter the Middle Eastern market as early as 2027, setting a record for the largest overseas bulk purchase in this field. Currently, the "Land Aircraft Carrier" has accumulated 7,000 orders.
Southwest Securities believes that national strategy focuses on the new low-altitude economy track, with various regions successively introducing programmatic policies for low-altitude economy development, and state-owned enterprises intensively establishing low-altitude economy companies. From application scenarios perspective, low-altitude logistics and low-altitude tourism applications are leading, while other fields are also actively exploring. Leading eVTOL manufacturers are experiencing surging orders, with clear trends toward large-scale development in the low-altitude economy industrial chain.
Guosen Securities states that China's drone industrial chain leads globally, with related patent applications in the drone field accounting for approximately 70% globally, making it the world's largest civilian drone exporter. Low-altitude economy commercialization scenarios are also rich with enormous market space. Guosen Securities forecasts that by 2026, the low-altitude economy scale is expected to exceed one trillion yuan, reaching 1.0645 trillion yuan. According to Civil Aviation Administration data, by 2030, China's low-altitude economy market scale is expected to reach 2.5 trillion yuan, potentially reaching 3.5 trillion yuan by 2035. According to Guosen Securities calculations, in the medium term, the domestic eVTOL steady-state market scale could exceed 200 billion yuan, with tourism scenarios, commuting scenarios, and complete aircraft sales market scales reaching 68.3/20.8/126 billion yuan respectively.
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