AEROTREE, EHang Ink Partnership To Co-Develop Urban Air Mobility Business In Malaysia

EHang Holdings Ltd EH has established a strategic partnership with Aerotree Flight Services Sdn. Bhd., a subsidiary of Malaysian aviation company AEROTREE Group. The financial terms were not disclosed.
The companies will jointly develop urban air mobility (UAM) business, including Maintenance, Repair and Overhaul (MRO) and training in Malaysia.
Pursuant to the arrangement, AEROTREE has placed a pre-order for EHang's electric passenger-grade AAVs in Malaysia for 50 units of the EH216 series and 10 units of the VT-30 eVTOL.
Price Action: EH shares are trading lower by 1.31% at $12.05 on the last check Thursday.