When delivery riders take flight as aerial couriers, and drones become their time-defying vessels, when street taxis transform into sky cabs, helicopter commutes become accessible to the masses. These scenarios may seem like pie in the sky today, but as the low-altitude economy evolves, this science-fiction lifestyle may just become a reality sooner than you think.
The 15th China International Aviation and Aerospace Exhibition, also known as Airshow China, concluded on November 17, showcasing the latest in stealth jets and helicopters. However, it was the Low-Altitude Economy Pavilion that drew significant attention, displaying many of the advanced technologies that will soon make low-altitude air travel possible to the public.
When the “low-altitude economy” was still a fresh concept to most, a trillion-worth new industry was quietly taking shape. China began laying the groundwork as early as 2021, and by April 2024, it was first mentioned in the Government Work Report. The sector reached 506 billion yuan in 2023, growing at an impressive 33.8%, with projections suggesting 2 trillion yuan by 2030.
In this trillion-dollar opportunity, who's leading the charge toward the skies? Enter the industry pioneer, EHang, founded in Guangzhou in 2014. As a cutting-edge technology company focused on R&D, EHang initially operated at a loss while building market recognition, at one point seeing losses of 200 million yuan.
Nevertheless, backed by favorable policies and market conditions, their Q2 revenue reached 102 million yuan in 2024, turning losses into profits for the first time in a decade.
To understand EHang, we must first understand eVTOL, the essence of the low-altitude economy. Think of it as an electric aircraft that can take off and land vertically without a runway. This innovation makes air travel accessible to ordinary people, and presents a brand-new dimension to human life. Soon, air commute won't be a distant dream, aerial deliveries to homes will become commonplace, and medical evacuations will be able to race against the clock through the skies. In all these application scenarios, EHang stays actively at the forefront.
Many companies are competing in eVTOL, so what makes EHang the industry leader? Consider its flawless three-and-a-half-year record, and its achievement in securing the world's first complete airworthiness certification. Its competitor, Joby, began seeking certification in 2018, but suffered a test flight setback in 2022.
EHang's early success gave it an enormous advantage, as it had "three certificates" essential for an eVTOL model to start mass production and then market sales. EHang is estimated to win a profit window in a year-plus, while competitors are still pursuing certification. This explains the record deliveries and profits in Q2 2024.
As EHang vies to become the "Tesla of the skies," Guangzhou, where EHang flourished, is also ramping up its infrastructure to secure a leading position. Its complete low-altitude economy industrial chain includes over 300 related companies and 69 core companies, helping the metropolis secure the leading status in its current stage. However, with the explosive growth in the number of unmanned aerial vehicles (UAV) in recent years, the skies are becoming increasingly "crowded." Despite EHang's early start, sustainability is the next hurdle to clear.
In the coming days, finding a solution to battery limitation and the pressure to generate profit to offset a decade of losses are still problems for the unicorn to solve. There might be a long way ahead in making air mobility practical for public use. However, with the soaring development of the low-altitude economy, in the foreseeable future, airborne delivery service and taxi in the air will become routine in our daily life, as we harvest new opportunities and perspectives from the skies above.
出品：南财国际传播中心 21新媒体中心 创意互动中心
策划统筹：于晓娜 丁青云
内容统筹：谭婷 陈思颖
责任编辑：李香香
执行统筹：黄欣然
设计统筹：林军明
视频统筹：白宇航
监制：施诗
英文翻译&配音：李莹亮
海外运营监制: 黄燕淑
海外运营内容统筹: 黄子豪
运营支持：曾静娇
审校：张晔 黄志明
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