A company with nearly two decades of experience in new energy vehicle powertrains is now applying the same technical logic to aviation.
During its earnings briefing on October 29, 2026, Enpower (300681) sent a key signal: its electric propulsion system for heavy-payload drones has passed validation by certain customers and will begin small-batch deliveries soon. Meanwhile, the eVTOL electric propulsion system is no longer just a laboratory prototype—EHang Intelligent’s EH216-S electric propulsion system has achieved small-batch delivery, and prototypes for the VT35 model have also been delivered as part of the supply chain.
With these two lines advancing in parallel, the “second growth curve” of the low-altitude economy is transitioning from expectation to actual delivery.
Heavy-Payload Drones: From Design Win to Delivery, Only the Final Step Remains
Heavy-payload drones represent the fastest-moving line in Enpower’s low-altitude portfolio.
According to disclosures at the earnings briefing, this product utilizes third-generation semiconductor (GaN) technology, with core objectives of enhancing power density and endurance. It targets multiple application scenarios including agriculture, surveying, firefighting, and transportation. Currently, it has “secured validation and design wins from leading customers,” and “has passed validation by some customers, with small-batch deliveries expected to start soon.”
The significance of this “small-batch delivery” milestone lies in the fact that it indicates Enpower has completed the critical closed loop of product development, customer validation, and order fulfillment in the drone propulsion sector. In the first three quarters of 2026, the company reported total revenue of CNY 4.018 billion, a year-on-year increase of 70.43%. Multiple leading design-win projects in the low-altitude economy have entered the delivery phase, which brokerage research reports explicitly describe as “the second growth curve shifting from expectation to reality.”
The scenario logic for heavy-payload drones is also clear: agricultural plant protection, surveying and inspection, emergency firefighting, and regional transport. These applications demand high power density, environmental adaptability, and reliability from the electric propulsion system, all of which share a highly homologous technological foundation with Enpower’s “Integrated Chip” technology refined in the passenger vehicle sector.
eVTOL: Not Just “Supplying EHang,” but Embedded in EHang’s Manufacturing System
Enpower’s cooperation with EHang Intelligent goes far deeper than the term “supplier” implies.
Deliveries already realized include two main parts: the electric propulsion system for the EH216-S has completed small-batch delivery; and the electric propulsion system prototype for the new VT35 model has been delivered as part of the configuration. The technical foundation of the VT35 continues Enpower’s unique “Integrated Chip” technology from the passenger vehicle domain. The team has integrated multiple high-difficulty technologies such as dual windings, dual electronic controls, oil cooling, flat wires, and outer rotors to achieve multi-redundancy design, high reliability, and IP67 all-weather waterproof operation.
However, what truly warrants attention is the binding between the two parties on the manufacturing end. Yunfu Enhang, a joint venture established by Enpower and EHang Intelligent, is 60% owned by Enpower. With a total factory area of 48,000 square meters and an annual capacity target of 1,000 units, the production line debugging has been completed. The facility is currently in the PC certification stage and can formally commence production and delivery for EHang once the production license is obtained.
This means Enpower’s role within the EHang ecosystem has extended from being merely an “electric propulsion system supplier” to participating in the complete machine/component manufacturing process. For a company transitioning from the automotive supply chain, this is a heavier signal than simply securing a design win: it has been incorporated into the OEM’s mass production system rather than remaining at the prototype support level.
Technological Foundation: Why “Integrated Chip” Technology Works for Both Cars and Aircraft
Enpower’s ability to advance both drone and eVTOL lines simultaneously in the low-altitude economy relies on a single underlying technology platform—the “Integrated Chip.”
The core logic of this technology is deep integration of motor and electronic control. In automobiles, it solves issues related to volume, weight, and power density; in aircraft, these three indicators directly determine range and payload efficiency. Enpower reuses and recombines technical modules such as dual windings, dual electronic controls, oil cooling, flat wires, and outer rotors, enabling the electric propulsion system to be compact, lightweight, and high-power-density while possessing a multi-redundant architecture to meet aviation safety requirements.
System capabilities are also keeping pace. The company has passed AS9100D aviation quality standard certification, which is the basic threshold for entering the aviation supply chain. The eVTOL electric propulsion system platform product has completed development and entered the small-batch application stage, securing multiple project design wins from leading domestic and international companies including EHang Intelligent, Volocopter, Gaoyu, and Yiweite.
The customer structure extends beyond just EHang. The electric propulsion system for Volocopter’s Xpro model has completed development and undergone installation testing; the electric propulsion system for Yiweite’s 2-ton ET9 model has been fully developed; and prototype development for Gaoyu is proceeding smoothly. While EHang is currently the customer with the clearest delivery schedule, Enpower’s low-altitude customer matrix is expanding to a broader range of leading OEMs.
Delivery Pace Is the True Watershed
The low-altitude economy has never lacked stories about “design wins” and “prototypes”; what it lacks is mass delivery and ramp-up.
Enpower’s current position sits precisely on this watershed. Small-batch deliveries for heavy-payload drones are imminent, the EH216-S electric propulsion system is already in small-batch delivery, and Yunfu Enhang’s annual capacity of 1,000 units awaits only the completion of PC certification. Revenue of CNY4.018 billion and a growth rate of 70.43% in the first three quarters of 2026 provide a solid foundation for traditional business to support the investment pace of the low-altitude line.
From passenger vehicle powertrains to aviation electric propulsion, Enpower follows a path of technology reuse, system certification, customer design wins, and small-batch delivery. The next key factor is not whether there are design wins, but whether small batches can successfully transition to mass production, and whether the 1,000-unit capacity can be truly filled. In the supply chain competition of the low-altitude economy, delivery figures will be more persuasive than design win announcements.