On September 7, 2024, the 3rd Low-Altitude Economy Development Conference was grandly held in Wuhu City, Anhui Province. The conference was themed "Developing the Low-altitude Economy and Creating a Better Future", focusing on the future development and application of the low-altitude economy. Liang Yanshun, Secretary of the Anhui Provincial Party Committee, attended the event and officially declared the conference open. Wang Qingxian, Deputy Secretary of the Anhui Provincial Party Committee and Governor of Anhui Province, also attended and delivered a keynote speech.

Shanghai TCab Tech Co., Ltd., a leading enterprise in the low-altitude economy sector, showcased independently developed tiltrotor E20 eVTOL at the event. The company also signed a series of strategic cooperation agreements with low-altitude ecosystem partners to create a closed-loop business model, driving the construction of the low-altitude economic ecosystem in Anhui Province and the entire Yangtze River Delta, and leading industry innovation and development.

At the event, Yon Wui NG, Founder and CEO of Shanghai TCab Tech Co., Ltd., signed strategic cooperation agreements with Tang Bin, Chairman of Anhui General Aviation Holding Group Co., Ltd., Ye Yongbin, President of Wanjiang Financial Leasing Co., Ltd., and Zheng Zidong, General Manager of the Business Department at the Wuhu City Branch of Agricultural Bank of China.

Jiang Huaiyu, former Director of the CAAC East China Regional Administration, and Yin Qiong, Secretary of the Wanzi District Party Committee of Wuhu City, Anhui Province, each delivered congratulatory speeches to TCab Tech. The event was also attended by Zhang Dong, Deputy Secretary of the Wuhu City Municipal Party Committee, Chen Lele, Chairman of Anhui Transportation Holding Capital Investment Management Co., Ltd., Lu Peibin, President of the Shanghai General Aviation Industry Association, along with other officials and guest speakers, all of whom witnessed the event.

As one of China's first comprehensive demonstration zones for the general aviation industry, Wuhu City is strategically located at the intersection of the Yangtze River Delta and central China. With strong general aviation manufacturing capabilities, a complete industrial chain, and the dual advantages of geographic positioning and resource aggregation, Wuhu City provides an excellent market environment for the development of the low-altitude economy.

TCab Tech has formed strategic partnerships with Anhui General Aviation Holding Group Co., Ltd., Wanjiang Financial Leasing Co., Ltd., and the Agricultural Bank of China's Wuhu City Branch. This signifies that TCab Tech has established a comprehensive low-altitude economic ecosystem in Anhui Province, encompassing key sectors such as manufacturing, sales, operations, leasing, and financing.

TCab Tech and Anhui General Aviation Holding Group Co., Ltd. will jointly explore the market potential of eVTOL in various commercial scenarios, including low-altitude tourism, short-distance travel, and urban air mobility in Anhui Province. As the only provincial-level general aviation industry development platform in China, Anhui General Aviation Holding Group Co., Ltd. boasts extensive industry infrastructure. TCab Tech's eVTOLs, known for their low operating costs, minimal land use, high safety, and environmental friendliness, align with the goals of accessibility, public benefit, and convenience in general aviation development. Together, they will build a comprehensive E20 eVTOL demonstration base in Anhui and launch pilot routes for low-altitude transport and aerial sightseeing in southern Anhui, enhancing the eVTOL operational and service systems to provide safer, more convenient, and efficient low-altitude travel services, and helping Anhui build a core engine for low-altitude economic development.

Tang Bin (left), Chairman of Anhui General Aviation Holding Group Co., Ltd., and Yon Wui NG (right), CEO of TCab Tech, sign the agreement on-site

Wanjiang Financial Leasing Co., Ltd. is the first financial leasing company in Anhui Province. In recent years, under the support and promotion of Anhui Transportation Holding Capital Investment Management Co., Ltd., it has adopted a development strategy focused on "rooting in Anhui, radiating throughout the Yangtze River Delta, and serving the whole country." With its unique "financing + leasing" advantage, it plays a pivotal role in key areas such as infrastructure, advanced manufacturing, and transportation, demonstrating significant core competitiveness. In partnership with Wanjiang Financial Leasing Co., Ltd., TCab Tech will collaborate in the areas of sales, operating leases, and financial leasing of the E20 eVTOL aircraft. Together, they will address the rapid growth of the low-altitude economy and the evolving needs of clients by researching and designing standardized eVTOL leasing solutions to lower the financial barriers for customers and accelerate the commercialization of eVTOL technology.

Ye Yongbin (left), President of Wanjiang Financial Leasing Co., Ltd., and Yon Wui NG (right), CEO of TCab Tech, sign the agreement on-site.

As one of the world’s leading financial institutions, the Agricultural Bank of China leverages its strong brand advantages and professional service system to play an active role in supporting technological innovation and industrial development. The Wuhu City Branch of the Agricultural Bank of China inherits the service philosophy and expertise of its headquarters, serving as an extension of local financial services, with a commitment to supporting the local economy and driving regional economic growth. The strategic partnership between TCab Tech and the Wuhu City Branch provides TCab Tech with robust financial support. The two parties will collaborate closely in areas such as establishing corporate account systems and optimizing capital management, aiding the commercialization of the E20 eVTOL.

Zheng Zidong (left), General Manager of the Business Department at the Wuhu City Branch of Agricultural Bank of China, and Yon Wui NG (right), CEO of TCab Tech, sign the agreement on-site.

These strategic agreements represent a significant and milestone step in the commercialization of TCab Tech's E20 eVTOL. Leveraging this collaboration, TCab Tech will intensify its investment in research and production, remaining market- and customer-oriented to ensure the long-term competitiveness of the E20 eVTOL. The company will also actively seek more win-win partnerships to jointly promote the development of the eVTOL industry and the low-altitude economy.