In a live broadcast event held on May 7, 360 Group founder Zhou Hongyi was unable to test drive the flying car manufactured by Xpeng Heitech due to flight procedures not being processed in time. Zhou jokingly said that he was both looking forward to and afraid of taking the test drive.
Zhao Deli, Vice President of Xpeng Heitech, pointed out a safety issue regarding low-altitude flyers, noting that fully unmanned low-altitude flying vehicles can become quite unresponsive if their communication links are interfered with. Zhou Hongyi expressed his concerns about ground control systems being potentially hacked and expressed his hope to collaborate with Xpeng Heitech on security in the future.
The planned flight demonstration could not proceed, as staff from Xpeng Heitech explained that flying within Beijing’s airspace required special permits, and they had not yet received a specific response from the airspace management. Although Zhou Hongyi was unable to take the test flight personally, there were reports that 360 Company already owned three flyers. These include a split-type flying car exhibited by Xpeng Heitech at a car show and a Traveler X2 flying vehicle that has obtained the first domestic flight certificate.
Industry experts believe that Zhou Hongyi, who is willing to try new technologies and explore new fields, may want to be involved in the development of this industry as the low-altitude economy increasingly captures market attention.
Recently, the rapid rise of the low-altitude economy industry has become a focal point in the market. In the field of financial analysis, Morgan Stanley released its first coverage report on EHang Holdings and gave a buy rating, with a target price of 27.50 US dollars. This positive assessment led to a significant rise in EHang Holdings’ shares in the US stock market, with a gain of more than 7%, closing at 18.70 US dollars per share.
It is worth mentioning that EHang Holdings had received an important certification from the Civil Aviation Administration of China Central and Southern Regional Administration on April 7, which is seen as the world’s first certificate of unmanned aerial vehicle production for manned aircraft (PC). The acquisition of this certificate represents official recognition and support for the company’s leading position in the drone industry.
Not only has EHang Holdings successfully carried out commercial first flights in cities such as Guangzhou and Shenzhen, but its production factory in Yunfu has also achieved an annual production capacity of 600 units.
Experts from CITIC Securities pointed out that national authorities continue to actively promote the safe and healthy development of the low-altitude economy. The response is particularly enthusiastic in urban agglomerations in regions such as the Yangtze River Delta and Pearl River Delta, which have introduced policies and plans to support industry development. This dynamic development is expected to form several low-altitude economy demonstration areas nationwide and ultimately drive the accelerated growth of the domestic low-altitude economy. Therefore, investors are advised to closely monitor the continuous driving effect of low-altitude economic policies.
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