EHang suspends trading ahead of ‘significant’ announcement
Chinese eVTOL maker, EHang has suspended trading on Nasdaq ahead of a “significant” announcement.
In a press release the company stated: “In anticipation of an upcoming announcement concerning a very significant development regarding its business operations, EHang has voluntarily requested the Nasdaq to, and the Nasdaq has approved to temporarily suspend the trading of the company’s American depositary shares since the market opens at 9:30am ET, October 9, 2023.”
EHang said it plans to announce the new development, and make an application with the Nasdaq to resume the trading by October 13, 2023.
Rumours as to what the announcement will be are abound on social media. However, the general consensus is that EHang will announce type certification of its eVTOL, EH216-S with the Chinese civil aviation authority.
Last week, the firm announced it had delivered five units of EH216-S to Shenzhen Boling Holding Group as part of a deal for 100 aircraft. The further 95 deliveries will be made if and when EHang gains type certification for the aircraft in China.