Intelligent unmanned four-axis aircraft high-tech company Ehang Intelligent was listed on NASDAQ abroad today, with a stock price of US $ 12.5. Based on the stock price, the total market value of Ehang intelligent is US $ 680 million.
Li Jianwei, a partner of Zhencheng Investment and an investor in Yihang, told reporters that the key use value of Yihang's intelligence depends on the shape of the easy-to-use products that define flying cars in air traffic in big cities.
Ehang's first prototype certification machine in 2015
According to Li Jianwei's detailed introduction, more than 4 years ago, he strongly recommended EHang to Xu Xiaoping, the founder of Zhenge Fund, and Mr. Xu was not afraid to make a decision in danger. In the past two years, EHang has experienced some twists and turns throughout the development trend, including the initial product experiment time exceeded estimates, everyone's disapproval of product orientation, and the North American business process development strategy in the middle. Anyone who has a will can do it.
"Ehang ’s elite team has a clear overall goal and iterative updates on the finished product. Now it has been able to deliver the Ehang 216 product in large quantities. There have been no security incidents during the first flight of more than 1,000 hours in the past 2 years. At this stage, we are just beginning to try business services. "
EHang has completely changed a new product
Li Jianwei feels that the difference between EHang and most of the good entrepreneurial projects depends on the flying car they are making is a sales market that has never been before, so it is necessary to define a new product, and as an investor, do well. The better regions depend on the shape of the right product at that time, and the founding elite team that firmly believes that Yihang can make this product.
Li Jianwei emphasized that before EHang, many companies were also making "flying car definitions". For example, the British company Terrafugia released the first product Transition in 2009.
However, this product simply dismantles the definition of "flying car". An aircraft propeller is added behind a car body, and retractable airplane wings are added on both sides. The driver must be able to drive and must be able to drive. Aircraft, and at the time of application, the customer had to transfer the car to the sports field, which is not much different from a light airfield.
If you think more deeply about the application scenarios of air traffic in big cities, you will find that there is a problem with this product. For example, there is no way to support a sports ground in a big city. Such weird cars are very inconvenient to set up on the road. Aviation poses these safety hazards.
Taili Enterprise also announced a TF-X definition car in the future, which is a car body plus two convertible aircraft propeller modules similar to the British VF-22 Osprey Airport, but this structure is too complicated (VF -22 has produced many safety accidents), is not necessarily appropriate, and the current mass production stage is still stranded in the design stage.
The "flying car" in the real sense will not necessarily be a small car for aviation, but will be a new commodity shape.
Li Jianwei thinks that the use of flying cars in and around big cities must meet two essential characteristics:
1 Can take off and land vertically, and the mechanical system is simple and reliable
2 Unmanned and controlled by a central command system
Must take off and land vertically As it is not possible to find a stadium to take off and land in a large urban area, it is not practical to have a short rolling distance.
Unmanned and controlled by the central government command system are based on two levels of consideration:
The first is safety. If there are several cars flying in the air in a big city, assuming that the driver is hijacked by terrorists, the adverse effects will not be imagined;
The second is compliance management. Once the large-scale urban air traffic (UAM) has entered the practical stage, the total flow of the channel will be concentrated in the aspect ratio. Only the unmanned mode controlled by the central government can meet the requirements of air traffic control. .
Li Jianwei said that in the early days when he saw the elite team of EHang in the early stage, he was surprised to find out that their understanding of this aspect had a consensus with us on the aspect ratio. Hu Huazhi, the founder of EHang, loves aviation very much. He opened a variety of airfields. For different shapes of flying, the technical characteristics of the aircraft are clear. This laid the foundation for the four-axis aircraft they made. ;
In addition, he has also done emergency intelligent management systems in very large cities. In addition, he has a good grasp of the management system of route management methods. This has also set a very good standard for setting up a centralized control system and applying for airworthiness approval.
After two years of product research and development, the current eHang 216 should be at the leading level in the world in terms of safety factor, characteristics and enterprise level in the metropolitan air traffic (UAM) industry. We have not seen any specific products from other companies that meet the two specifications just mentioned (vertical take-off and landing, driverless and controlled by the central government production dispatch control system). Therefore, Yihang 216 defines the big city air traffic Easy-to-use commodity shapes for flying cars.
EHang is different from DJI
Today, many reports compare EHang with DJI. Many people think that if DJI does 2B, EHang will die.
Regarding Li Jianwei, DJI has a ruling-level market share of consumer-grade unmanned aircraft in the world, and the company's unmanned aircraft service projects are doing very well, which is a typical meaning of China's creation.
But from the perspective of industry, EHang is actually developing in a completely different industry. Passenger unmanned aircraft is a four-axis aircraft involving personal safety, far from being a simple consumer-grade unmanned aircraft. It is so simple to make the aircraft larger version number. Its design scheme, structural compressive strength, safety data redundancy, and extreme conditions must be solved in a lot of careful and detailed design work;
In addition, because of information security, the airway must be audited by the air traffic control unit, and the operator must set up a centralized control system to monitor the condition of the entire airport. At this stage, EHang is the only company in the sales market that guarantees these levels. They are the only companies authorized by the General Administration of Civil Aviation of China to conduct passenger unmanned aircraft demonstration sites.
Li Jianwei also emphasized that, from the accounting point of view, as a pioneer in a new category, EHang ’s assets are still very efficient, and there is no large-scale investment to ensure large-scale delivery. The equity financing of this IPO is sufficient for them to invest again in two to three years.
"But more important than filling assets is that, as listed companies in the UK, they can increase the trust of potential users in the expansion of their international business, and they can also attract a large number of outstanding talents. People firmly believe that the IPO's business process for Ehang Stock fundamentals will speed things up. "