China's Evit Aviation lands Series A extension for its eVTOL, eyes airworthiness certification
What's the deal? Evit Aviation TechnologyDealroom has a profile for this one. Try Dealroom →, a Chinese developer of electric vertical take-off and landing (eVTOL) aircraft, has raised several hundred million yuan in a Series A extension. The round was backed by Shangcheng Capital and Puhua CapitalDealroom has a profile for this one. Try Dealroom →, with Deep Blue CapitalDealroom has a profile for this one. Try Dealroom → acting as sole financial adviser.
Who's behind it? Founded in 2022, Evit builds passenger eVTOL aircraft. Its core team comes from China's state aircraft maker COMACDealroom has a profile for this one. Try Dealroom → and includes four senior researchers, with founder Ren Wenguang having worked on domestic programmes including the ARJ21 and C919 over nearly 20 years.
The investors: Evit says it has now drawn support from national-level funds, listed companies, and local state capital. That mix of backers underlines growing institutional interest in China's low-altitude economy.
What's the endgame? Evit's flagship ET9 is a five-seat, four-passenger composite-wing aircraft with a 2.4-tonne maximum take-off weight, a 240km range, and a top speed of 240km/h. The company took a self-developed 800V high-voltage electric propulsion system route from the start, completing development over two years.
Why now? The company says it has largely cleared the transition-flight stage, which it calls the most critical phase of eVTOL development and one that few domestic firms have completed. The ET9 has logged more than 800 test flights, and Evit is now running compliance verification work with regulators.
By the numbers: Since 2022, Evit has signed agreements with 19 strategic partners and accumulated 890 intent orders spanning the ET9 passenger and cargo versions and the ET3. Partners include general aviation operators, medical emergency firms, and financial leasing companies, and Evit has struck a strategic tie-up with Didi.
What could go wrong? Certification is the gating risk. Evit expects clear progress on airworthiness this year and plans to complete certification of its first model next year — a timeline that depends on regulatory approval. Co-founder Zhao Jiwei also flagged manufacturing cost as decisive, noting the propulsion system alone accounts for more than a third of an aircraft's cost.
The signal: Backing from state funds and industrial players points to China treating eVTOL as strategic infrastructure for a future urban air-mobility market. With a wave of consolidation likely ahead, the firms that reach airworthiness certification first stand to define the sector.
Read more: 36kr.com
Image credit: USDAgov
