ECARX Holdings Inc. (ECX)

ECARX Holdings is a Cayman Islands holding company that develops full-stack technology solutions for software-defined vehicles, spanning silicon (System-on-a-Chip, or SoC) to software. It was founded in 2017 by Eric Li (Li Shufu) and Ziyu Shen and incorporated in the Cayman Islands in November 2019. Operations in China are run through PRC subsidiaries. A former VIE, Hubei ECARX, was unwound in a 2022 restructuring. The company completed a business combination with the blank check company COVA in December 2022, and its Class A Ordinary Shares and Warrants trade on Nasdaq under "ECX" and "ECXWW". As of December 31, 2025, over 11 million vehicles on the road carried ECARX products and solutions.

The business has three core product lines. Intelligent Cockpit Platforms include the cost-efficient Venado series, the Makalu platform built on AMD processors, and Qualcomm-based platforms such as Galena (SA8155) and Pikes (SA8295). Intelligent Driving (ADAS) Platforms cover parking assistance, smart cameras and ADAS domain controllers, including Black Sesame-based platforms and the AD1000 controller built on a SiEngine SoC. The company also makes in-house solid-state short-range and semi-solid long-range lidar and has a partnership to supply lidar for robotic lawn mowers. Fusion Platforms (Vehicle Central Computing) offer "OneBox" and "OneChip" solutions, including the Antora series. The software layer is Cloudpeak, a full-stack platform built on Android Automotive OS. It has Google CTS and GAS certifications, integrates the Flyme Auto operating system, and includes AI agent capabilities. ECARX holds a license to distribute Flyme Auto worldwide, extended in May 2025 to November 2033 on an exclusive basis. It customizes automotive-grade SoC core modules with chip partners and co-defines silicon with SiEngine. It also holds a 70% stake in JICA Intelligent, which has autonomous driving development capabilities, and controls Suzhou Photon-Matrix, a LiDAR developer.

ECARX serves 18 global and local OEMs across 28 vehicle brands, including Geely ecosystem models (Geely, Lynk & Co, smart), Changan Mazda and Dongfeng Peugeot-Citroën. It also works with Volvo Cars and HaleyTek on automotive software. Cloudpeak has been deployed in more than 40 global markets. Venado alone has cumulative shipments above 3.5 million units.

ECARX has a team of over 1,400 across 13 locations in China, the UK, the USA, Singapore, Malaysia, Sweden and Germany, and about 70% of its staff work in research and development. R&D centers include Gothenburg, Sweden (opened 2020, focused on cockpit operating system development) and Stuttgart, Germany (opened 2023). Its R&D work runs in three streams: digital cockpit, a "super brain" central computing product, and automated driving control units. As of December 31, 2025, it had 779 registered patents and 797 pending applications. Key technology partners and chip suppliers include Qualcomm, AMD, SiEngine, Black Sesame, NVIDIA, Mobileye and MediaTek. The company began in-house production at its Hangzhou Fuyang facility in April 2024 and acquired Hubei Dongjun Automotive Electronic Technology in July 2024 to build its production capabilities in China. The principal executive office is in London, United Kingdom.