Shanghai TCab Technology and Bank of China Shanghai Minhang Branch have held a bank-enterprise strategic cooperation signing ceremony, granting the Chinese eVTOL developer comprehensive credit support of one billion yuan for the research and development of its E20 tilt-rotor eVTOL product, airworthiness certification and industrialisation development.

Huang Yongwei, the founder and CEO of TCab Technology, expressed his sincere gratitude for the support of Bank of China Shanghai Minhang Branch, and says: “The strategic cooperation between the bank and the enterprise has provided us with sufficient financial guarantee. It will help speed up the research and development of the E20 eVTOL and promote the commercialisation of air taxis.”

Through the combination of technology companies and financial institutions, TCab can better promote the development of comprehensive three-dimensional transportation in China. This cooperation also shows that relevant financial institutions are very optimistic about the technical strength and development prospects of TCab Technology in the field of eVTOL aircraft. TCab Technology will also continue to make good use of support from multiple financial institutions, give full play to the innovation capabilities of technology companies and promote its tilt-rotor eVTOL to the world.

TCab Technology is a high-tech enterprise that develops and manufactures manned eVTOL aircraft. The achievement of this technological and financial cooperation is an important milestone event for TCab Technology. In the future, the bank and the enterprise will carry out in-depth cooperation in the establishment of enterprise account systems, capital optimisation management and supply chain finance.