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  "documentTitle": "EHang Holdings, Ltd. (EH)",
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  "presentationDate": "2021-02-16 00:00:00",
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  "notes": "Uses visual evidence to undermine the credibility of the subject company's manufacturing capabilities.",
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      "text": "As you can see, EH’s manufacturing facility comes short in comparison with XAG.",
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      "text": "Robinson R44 manufacturing facility",
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      "text": "Because EH’s drones are supposed to carry passengers, they would theoretically compete with small helicopters, such as the Robinson R44. An R44 costs $500k brand new but can carry four people plus cargo (up to 818 lbs.) at speeds up to 125 mph for nearly 350 miles. Robinson’s R44 manufacturing facility is pictured below, nothing resembling what we saw in EH’s facilities:",
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      "kind": "paragraph",
      "text": "We thought it would be appropriate to compare EH’s facility to a real drone factory. Below is a picture of Chinese agricultural drone manufacturer XAG’s facility in Guangzhou. XAG drones are un-manned (without passengers), hence EH’s passenger grade EH216 manufacturing setup should be substantially more robust than XAG’s. As you can see, EH’s manufacturing facility comes short in comparison with XAG:",
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      "kind": "source-note",
      "text": "4 XAG Resumes Work and Drone Production to Aid Spring Planting\n5 https://robinsonheli.com/r44-specifications/",
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      "kind": "title",
      "text": "What Should We Have Seen in EH’s Manufacturing Plants?",
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