![]() "Each will play an instrumental role as we lead the shift toward fully electric vehicle platforms and remain focused on delivering value to all stakeholders. "These exceptional leaders bring decades of experience to support ECARX as we expand to serve the fast-changing automotive industry and capture share in the large, growing market for connected cars," said ECARX Chairman and Chief Executive, Ziyu Shen. Today, more than 3.7 million vehicles are equipped with ECARX technologies. ECARX works alongside global brands in a highly integrated way from the early stages in the product cycle to identify trends and plan, pilot, and test differentiated solutions that enable and enhance the onboard experience. ("COVA") that values ECARX at $3.82 billion pro forma equity value, or pre-money equity value of $3.4 billion.ĮCARX transforms vehicles into seamlessly integrated information, communications, and transportation devices – essential for the development of connected, automated, and electrified mobility. ![]() In May of 2022, ECARX announced its merger agreement with COVA Acquisition Corp. Today's news builds on recent momentum for the company, including a strategic collaboration with AMD to work on an in-vehicle computing platform for next generation electric vehicles, and a partnership with Luminar to enable advanced safety and automated driving capabilities in the production of consumer vehicles and commercial trucks. ("ECARX"), a global mobility tech company, today announced the appointments of Ramesh Narasimhan as Chief Financial Officer, Peter Cirino as Chief Operating Officer and Andrew Winterton as General Counsel. ![]() 11, 2022 /PRNewswire/ - ECARX Holdings, Inc. “The collaboration will help Luminar to accelerate deployment of its industry-leading long-range lidar and software in the market and beyond through Ecar’s deep connection with Geely and the Geely ecosystem, comprising some of the world’s most reputable automotive brands,” Luminar said in May.Experienced Leaders will Accelerate ECARX's Technology Development and Product Roll-Out, Strategic Acquisitions and Investments, and Global Expansion Luminar’s tie-up with Ecarx will be critical in helping it confront domestic lidar players, from BYD-backed RoboSense and Bosch-backed Hesai to Temasek-funded Innovusion and Livox, which sprang out of DJI. The lidar industry in China is enjoying a boom as the country’s electric car makers - which themselves have benefited from government support for renewable energy - woo picky consumers with advanced driving technology, in-car entertainment and other novel auto features. Shen Ziyu, Ecarx’s other co-founder and a former General Motors executive, told Reuters in March 2021 that the company had already supplied 2.5 million vehicles. Its customers include, unsurprisingly, Geely-owned brands like Lotus and Volvo. Ecarx is building a comprehensive platform for the future of cars, focusing on the likes of auto chips and smart vehicles. Luminar’s sensing technology can potentially reach millions of vehicles through the Geely/Ecarx auto empire. The funding will be part of the pair’s wider collaboration on automotive-grade technologies, which aims to “ enable advanced safety and automated driving capabilities in the production of consumer vehicles and commercial trucks,” a plan that Luminar unveiled in May. ![]() It’s making a strategic investment of an undisclosed amount in Ecarx, an auto tech startup co-founded by Eric Li, founder of China’s largest private automaker Geely, Ecarx said on Thursday. Luminar, the Florida-based lidar company that went public via SPAC in 2020, has formed a close alliance with an auto behemoth in China.
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