The electric vertical-takeoff-and-landing (eVTOL) vehicle developer is defending itself
As valuations skyrocket for urban air mobility startups, a dispute between China’s EHang and an activist short seller has underlined the challenges of investing during a nascent industry chasing a market that doesn't yet exist. EHang rebuts allegations of sham sales Investors invited to look at eVTOL factory The electric vertical-takeoff-and-landing (eVTOL) vehicle developer is defending itself against a highly critical investigative report by short-biased due-diligence company Wolfpack Research. The report alleges EHang “is an elaborate stock promotion, built on largely fabricated revenues supported sham sales.” Most of the allegations center on sales to major customer Shanghai Kunxiang Intelligent Technology (Kunxiang), but Wolfpack also disputed EHang’s claims of progress with production and described its autonomous two-seat EH216 multicopter eVTOL as “majorly flawed” and “inherently dangerous.” EHang responded by defending its decision to specialise in autonomous vehicles, det...