Geely invests US$50-M in auto tech solutions provider

MANILA: Geely Automobile Holdings Limited has inked a strategic investment agreement with ECARX Technology Co. Ltd. to acquire approximately 1.51% of the company in return for an investment of US$50 million.

ECARX is a leading automotive intelligence company that was founded in 2016 by Li Shufu and Shen Ziyu. It is dedicated to developing an advanced open intelligent connected operating system, encouraging car companies to jointly create a smarter and safer mobility experience. The company has offices in the cities of Hangzhou, Beijing, Shanghai, Wuhan, and Dalian in China and in Gothenburg, Sweden.

Other big companies like Baidu, SIG (Susquehanna International Group, LLP), CVC (Corporate Venture Capital, and Hubei Changjiang Jingkai V2X Industry Fund LLP have also invested into ECARX in 2020 and 2021.

ECARX’s business focus aligns with Geely Auto’s long-term strategy. Both companies are committed to developing an intelligent technology ecology that concentrates on intelligent vehicle solutions that covers the SoC, cockpit and vehicle operating systems, software, autonomous drive solutions, and vehicle driving chip sets.

Photo from Geely

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