Ehang, a Chinese language firm that builds drones massive sufficient to hold human passengers, filed paperwork with the US Securities and Trade Fee to go public on Nasdaq with a $100 million providing of depository shares. The corporate, which has flown 1000’s of take a look at flights over time, is making ready to launch what it hopes is the world’s first autonomous air taxi service within the coming months.
Based in 2014, Ehang final introduced funding in 2015 when it raised $42 million in a Sequence B spherical, based on TechCrunch. Ehang obtained its begin within the business drone enterprise, although, lately, it has stopped promoting its drones within the US and Germany as a result of “intense competitors” in each of these international locations, based on the submitting. In consequence, Ehang’s subsidiaries in these international locations declared chapter.
Ehang lists different danger elements, together with the continued commerce warfare and the Trump administration’s use of nationwide safety powers to ban sure Chinese language corporations from promoting merchandise within the US. Ehang warns that its autonomous aerial automobiles may additionally find yourself on a “blacklist” sooner or later.