EVT Aerotechnics, an eVTOL (electric vertical takeoff and landing) aircraft developer, has raised a nine-figure RMB sum in Series A funding. The round was led by GP Capital, with participation from Jinggong Technology, Empower Electric, Peakview Capital, Ralph Investment Management, and existing shareholder Bondshine Capital. Deep Blue Partners served as the financial advisor.
The company said the capital will support development and certification of its flagship model, expansion of production capacity for its electric propulsion system (EPS), and validation of commercial applications.
Founded in 2022, EVT Aerotechnics is led by veterans of the state-owned Commercial Aircraft Corporation of China (COMAC). Its team has worked on national aviation programs including the Y-8 series, ARJ21, and C919. Founder Ren Wenguang brings nearly two decades of experience in aircraft design and validation. The company aims to advance urban air mobility by developing aircraft tailored for future short-range air travel.
A report from Guojin Securities estimates that China’s cumulative domestic demand for eVTOL aircraft could reach 16,316 units by 2030, across four main applications: scheduled short-distance passenger flights, private and corporate charters, aerial tourism, and emergency medical transport. However, long certification timelines and a fragmented supply chain remain obstacles to commercialization.
Globally, companies such as Joby Aviation and Archer Aviation focus on passenger transport, while China-based firms including EHang and AutoFlight prioritize sightseeing and cargo logistics. Many key components, including propulsion systems, are still imported, with electric motors costing in the six- to seven-figure RMB range (USD 140,000–1.4 million).
The ET9 will target passenger flights
EVT Aerotechnics’ core product is the ET9 series, a five-person aircraft with four passenger seats. The ET9 has a maximum takeoff weight of 2.2 tons, a range of 240 kilometers, and a top speed of 240 km per hour. It uses a quad-rotor, eight-propeller compound wing design intended to balance efficiency and structural simplicity. More than 85% of its airframe is made from carbon fiber composites.
The company is also developing the ET3, a hydrogen-lithium hybrid model designed for long-range inspection and surveying. With a range of up to 800 km, it is intended for beyond visual line-of-sight (BVLOS) operations.
By combining a compound wing with its proprietary EPS, EVT seeks to merge the vertical flexibility of rotorcraft with the efficiency of fixed-wing aircraft. The system fully localizes motors, controllers, and propellers, which the company said reduces costs compared with imported alternatives.
According to co-founder Zhao Jiwei, EVT took 17 months to develop the ET9 prototype and achieve its maiden flight, below the industry norm of 24–36 months. The prototype used EVT’s self-developed propulsion system from the start. It has since completed more than 400 test flights to refine flight controls and reduce weight.
The passenger version is designed with a range of 200 km and is targeting certification in 2027. A cargo variant, with a payload capacity of 500 kilograms, is expected to begin trial operations in 2026 to supply offshore vessels. The company said the model could cut logistics costs by 60–70% compared with current aerial methods.
Pushing for independent powertrain development
The localization of motors and controllers remains a challenge for China’s eVTOL sector. EVT said it has lowered the share of EPS costs to 32% through vertical integration and collaboration on high-discharge batteries. For aircraft weighing one to three tons, it has developed a motor family ranging 50–100 kilowatts, featuring enclosed air cooling, high torque density, and high efficiency.
Its L50 motor, built for two-ton aircraft, uses an inrunner rotor with hybrid forced-air cooling. EVT said it meets IP67 protection standards, produces more than 650 kilograms of thrust per propeller, and achieves torque and power densities above 33 newton-meters per kilogram and 5.0 kW per kilogram. The ET9 employs an eight-motor vertical propulsion layout with redundancy, giving it a thrust-to-hover ratio of more than 1.8 for fault tolerance and safety.
The path to airworthiness
EVT’s cargo variant has received type certificate acceptance, with certification targeted for 2026. The passenger model is scheduled to follow in 2027. To accelerate testing, the company partnered with Nanjing University of Aeronautics and Astronautics to build a simulation platform and brought in a designated engineering representative team accredited by the Civil Aviation Administration of China. EVT said this has shortened its verification cycle by 40% compared with industry averages.
Airspace reforms are also advancing. EVT recently conducted ten takeoffs and landings in a single day at a general aviation airport, demonstrating its scheduling system. Co-founder Zhang Zhi said the team’s civil aviation experience has helped strengthen compliance processes. EVT has set a failure probability target of one in 100 million for its passenger aircraft, compared with one in a billion for commercial airliners.
China’s National Development and Reform Commission recently issued guidelines for a phased rollout of low-altitude applications, prioritizing cargo over passengers, outskirts before city centers, and isolated airspace before integrated operations. EVT said it will focus on preorders and demonstrations in policy-supported and lower-risk scenarios.
The company has established an operations center and partnered with Didi Chuxing and the district of Jianye to explore low-altitude mobility. It has signed more than 300 letters of intent covering inspection drones, cargo UAVs (unmanned aerial vehicles), passenger eVTOL aircraft, and emergency medical aircraft. In logistics, EVT is working with delivery firms in mountainous and island regions. In emergency services, it has reportedly signed 30 provisional orders for medical aircraft, including with hospitals in the Yangtze River Delta region. For tourism, EVT has signed an agreement with scenic operators for 50 aircraft and plans to open a cross-mountain sightseeing route in 2026.
Looking ahead, EVT intends to make its EPS system available to third-party manufacturers in 2026. Two Chinese enterprises have already expressed interest in procurement.
Ren previously served as a senior systems engineer on COMAC’s C919 program. The team includes four senior researchers and several contributors to Y-8 aircraft development, with an average aerospace tenure of more than 15 years. EVT applies a model-based systems engineering approach, using the RFLP (requirements, functional, logical, physical) framework to integrate aircraft development.
Investor perspectives
- GP Capital said China’s low-altitude economy is emerging as a growth sector and cited EVT’s aerospace expertise and end-to-end eVTOL capabilities as reasons for investment.
- Jinggong Technology said its participation aligns with its role in carbon fiber equipment and composites, and it plans to support EVT in scaling production and lowering costs through automation.
- Empower Electric said EVT’s product development pace and technical depth were key factors in its decision. It intends to co-develop integrated motor-control units with EVT.
- Deep Blue Partners’ Zhang Zhiyuan described EVT as one of the few eVTOL developers with in-house propulsion R&D, a localized supply chain, and certification expertise backed by China’s aerospace sector. He said EVT had achieved one of the fastest development timelines from launch to first flight in the industry and noted the firm’s cost efficiency. Deep Blue said it will support EVT’s long-term capital market strategy.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This article was written by Lin Qingqing for 36Kr.