EHang Holdings (EH) said Friday it signed an agreement with the city of Weihai in China's Shandong Province to set up a pilotless passenger eVTOL research and manufacturing base in Shandong and develop a low-altitude economy industrial park.

The partnership includes the purchase of a first batch of 30 EH216-S eVTOLs, EHang said, adding that Weihai completed full payment for the order.

Shares were up 3.2% in recent premarket activity.