EHang (EH) said Thursday that it has raised $22 million from Zhuhai Enpower Electric and an unidentified UAE-based institutional investor in a private investment in public equity, or PIPE transaction.
Both investors have committed to a 180-day lock-up period, EHang said.
EHang said it will co-develop with Zhuhai Enpower Electric high-performance electric motor drive systems for its suite of electric vertical take-off and landing, or eVTOL aircraft.
The UAE-based institutional investor will support EHang's international expansion in other countries in the Middle East as well as in Southeast Asia, the company said.
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