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PRESS RELEASE
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Shanghai TCab Technology received 1 billion yuan in bank credit to accelerate product development and industrialisation
Wednesday, 24 May 2023

On May 23rd, Shanghai TCab Technology Co., Ltd. and Bank of China Co., Ltd. Shanghai Minhang Branch held a bank-enterprise strategic cooperation signing ceremony, and obtained a comprehensive credit support of 1 billion yuan for the research and development of E20 eVTOL products, Airworthiness certification and industrialisation development.

TCab Technology is one of the benchmark companies in the eVTOL industry and the leader of domestic tilt-rotor eVTOL. Mr. Huang Yongwei, the founder and CEO of TCab Technology, expressed his sincere gratitude to the support of Bank of China Co., Ltd. Shanghai Minhang Branch, and said, "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 E20 eVTOL and promote the commercialisation of "air taxis."

eVTOL is the product of the third technological revolution in the aviation industry, and it is an important opportunity for transportation to change the way of travel. Through the strong combination of technology companies and financial institutions, it 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's technology in the field of electric vertical take-off and landing aircraft. TCab Technology will also continue to make good use of multiple supports from financial institutions, give full play to the innovation capabilities of technology companies, and promote the tilt-rotor eVTOL made in China to the world.

TCab Technology is a high-tech enterprise that develops and manufactures manned electric vertical take-off and landing aircraft, and has always been favored by capital institutions. 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.

Contact details from our directory:
Shanghai TCab Technology Co., Ltd. Airframer
Related aircraft programs:
TCab Tech E20