EHang (NASDAQ:EH) stock is heading higher on Monday as the electric vertical takeoff and landing (eVTOL) company reaches a new milestone.
The big news here is EHang securing a production certificate for its EH216-S eVTOL. This is an autonomous passenger vehicle that will operate without the need for a pilot.
The production certificate comes from the Civil Aviation Administration of China (CAAC). That’s a milestone, as this marks the first time the agency has granted such a certificate in the global eVTOL industry.
Huazhi Hu, founder, Chairman and CEO of EHang, said this about the news:
“The issuance of the PC is pivotal for the EH216-S as it opens the door to mass production, and a crucial step for our advancement towards commercial operations. As of today, the EH216-S has secured the TC, PC, and Standard AC from the CAAC. All the notable accomplishments relied on the collaboration and tireless efforts of the CAAC’s expert team and EHang’s team.”
EH Stock Movement on Monday
With this news comes an increased interest in EH stock on Monday. That has more than 2.4 million shares changing hands as of this writing. That’s well above its daily average trading volume of about 1.2 million shares.
EH stock is up 4.3% as of Monday morning and up 27.9% since the start of the year.
Investors looking for more of the most recent stock market stories are in the right place!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Monday! Among that is what has shares of Mullen Automotive (NASDAQ:MULN), Fisker (OTCMKTS:FSRN) and MicroStrategy (NASDAQ:MSTR) stock in the news today. All of this info is ready to go at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
