EHang Strategically Invests in Solid-State Lithium Metal Battery Tech Company Inx to Develop Solid-State Battery Supply Chain for eVTOLs
20 September 2023 - 9:26PM
EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the
world’s leading autonomous aerial vehicle (“AAV”) technology
platform company, announced its strategic investment in Shenzhen
Inx Technology Co., Ltd. (“Inx”), a solid-state lithium metal
battery technology company in China, and its plan to cooperate with
Inx on the research, development and production of solid-state
lithium metal batteries for EHang AAV products.
This PreA+ funding round of Inx was led by GL Ventures, with the
participation from Connected Intelligence Fund, Qilu Qianhai Fund,
EHang, and its existing investor Fenghe Capital. The funding will
primarily be used for Inx’s R&D on solid-state lithium metal
battery technologies, market expansion, production and
deliveries.
Founded in 2020, Inx is a high-tech company specializing in the
research and production of solid-state lithium metal batteries with
core patents in materials, processing, manufacturing and battery
designs. The company gathers a world-class team with expertise on
advanced battery technologies, plus an experienced engineering,
manufacturing, and sales operation team. An advanced 200MWh
solid-state lithium metal battery production line, key material
preparation line, and solid-state battery analysis and testing
platform have been established.
Inx’s solid-state lithium metal battery differs from existing
traditional lithium-ion batteries by using lithium metal instead of
graphite as the negative electrode and solid-state electrolyte
instead of liquid electrolyte separators. This structural change
enables a significant leap in energy density while ensuring
extremely high battery safety.
Dr. Lin Chen, Chairman and Head of Research & Development of
Inx, stated that after over a decade experience of dedicated
research and technological development, Inx’s solid-state lithium
metal batteries have now achieved extraordinary safety and high
energy density features that will drive the industry forward in the
clean electrification transition. The investment from renowned
institutions like GL Ventures and clients like EHang reflects the
high recognition of our technologies, team, and product
commercialization. The entire Inx team remains committed to the
vision of “propelling the energy revolution and improving human
life”. We will strive for technological breakthroughs, product
innovations, and create value for our customers.
Leo Sun, President of Inx, said, “Our first-generation product
with an energy density of 450Wh/kg based on 6Ah-50Ah cells has been
recognized by customers. These products have obtained third-party
certification reports and can be manufactured in mass production.
Moving forward, Inx will closely collaborate with our strategic
customers, leveraging the strengths of Inx’s solid-state lithium
metal batteries. This collaboration aims to significantly enhance
the battery life and lightweight experience of OEM products,
accelerating the market penetration of high-safety,
high-energy-density batteries.”
Huazhi Hu, Founder, Chairman and CEO of EHang, commented, “As a
global leader in the field of unmanned electric vertical take-off
and landing (“eVTOL”) air mobility, EHang is always committed to
safer, more efficient and sustainable energy solutions. The
innovative solid-state lithium metal batteries developed by Inx
have significant advantages over liquid batteries in terms of
safety, energy density, thermal stability, cruising range, charging
and discharging performance, etc., which are believed to become a
key driver for the rapid development of the eVTOL field in the
future. Our strategic investment in Inx aligns seamlessly with our
pursuit for greener, low-carbon technologies, and is also part of
EHang’s efforts to deploy and enhance our upstream battery supply
chain. We expect Inx will continuously lead the innovation in
solid-state battery technology and create value for the energy
transition and electric aviation field.”
About EHang
EHang (Nasdaq: EH) is the world’s leading autonomous aerial
vehicle (“AAV”) technology platform company. EHang’s mission is to
make safe, autonomous, and eco-friendly air mobility accessible to
everyone. EHang provides customers in various industries with AAV
products and commercial solutions: urban air mobility (including
passenger transportation and logistics), smart city management, and
aerial media solutions. As the forerunner of cutting-edge AAV
technologies and commercial solutions in the global Urban Air
Mobility (“UAM”) industry, EHang continues to explore the
boundaries of the sky to make flying technologies benefit our life
in smart cities. For more information, please visit
www.ehang.com.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking” statements pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Statements that are not historical facts,
including statements about management’s beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to those
relating to EH216-S type certification, our expectations regarding
demand for, and market acceptance of, our AAV products and
solutions and the commercialization of UAM services, our
relationships with strategic partners, and current litigation and
potential litigation involving us. Management has based these
forward-looking statements on its current expectations,
assumptions, estimates and projections. While they believe these
expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions
and involve known and unknown risks and uncertainties, many of
which are beyond management’s control. These statements involve
risks and uncertainties that may cause EHang’s actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by these
forward-looking statements.
Media Contact: pr@ehang.com
Investor Contact: ir@ehang.com
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