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Highlights
EHang delivered 68 EH216 series eVTOL aircraft in Q2 2025, up from 49 units in Q2 2024 and 11 units in Q1 2025.
The company recorded revenue of RMB147.2 million (USD 20.5 million), a 44.2% increase year-over-year.
Strategic collaborations with Gotion High-Tech, Minth Group, and the Hefei government are accelerating next-generation product development.
EHang Holdings Limited (Nasdaq:EH), a global Urban Air Mobility (UAM) technology platform company, announced its unaudited financial results for the second quarter ended June 30, 2025.
The company delivered 68 EH216 series electric vertical take-off and landing (eVTOL) aircraft in the quarter, compared with 49 units in the same period of 2024 and 11 units in the prior quarter. Total revenue reached RMB147.2 million (USD 20.5 million), up 44.2% from RMB102.0 million in Q2 2024 and 464.0% from RMB26.1 million in Q1 2025.
Gross margin was 62.6%, consistent with previous quarters. Operating loss stood at RMB78.1 million (USD 10.9 million), broadly in line with the year-ago period, but improved by 13.1% from Q1 2025. Net loss was RMB81.0 million (USD 11.3 million), a 13.1% increase year-over-year. Adjusted net income (non-GAAP) was RMB9.4 million (USD 1.3 million), compared with RMB1.2 million in Q2 2024 and an adjusted net loss of RMB31.1 million in Q1 2025.
The company ended the quarter with RMB1.15 billion (USD 160.5 million) in cash, restricted deposits, and short-term investments. In addition, EHang raised RMB170.2 million (USD 23.8 million) through an at-the-market equity offering, which will support R&D, production expansion, and new headquarters development.
Expanding Operations and Customer Base
EHang delivered aircraft to 13 enterprise clients across several Chinese provinces and Japan during the quarter and secured new orders for over 150 EH216 units. The company also established more than 40 operational sites for the EH216-S globally, completing over 10,000 safe flights in the first half of 2025.
Commercial trial operations began in Guangzhou and Hefei through its subsidiary and joint venture, which completed over 700 flights since Q2 2025. These initiatives are paving the way for broader public-facing services later in the year.
Technology Advancements and Partnerships
EHang enhanced its supply chain and technology ecosystem with new partnerships. In June, it partnered with Gotion High-Tech to co-develop high-energy-density battery systems. In July, it formed an alliance with Minth Group to design lightweight airframe structures and smart cockpit systems.
The company is also advancing its VT35 long-range eVTOL model, which is undergoing internal testing ahead of a planned September unveiling. In collaboration with the Hefei government, EHang will establish a VT35 product hub supported by RMB500 million in funding and resources.
Additionally, EHang launched the “Tsinghua University–EHang Joint Institute for Low Altitude Aviation Technology” to advance R&D and contribute to industry standards in airworthiness certification, vertiport infrastructure, and UAV operator training.
Global Reach and Outlook
EHang expanded its pilotless eVTOL flight footprint to 20 countries, with recent operations in Mexico, Indonesia, and the Dominican Republic. Its VT20 logistics eVTOL also launched a long-distance intercity UAV logistics route in the Greater Bay Area.
Looking ahead, EHang revised its 2025 annual revenue guidance to approximately RMB500 million, citing its current focus on scaling operations and demonstration models to prepare for long-term growth.
