Welcome to our dedicated page for ECARX Holdings news (Ticker: ECX), a resource for investors and traders seeking the latest updates and insights on ECARX Holdings stock.
ECARX Holdings Inc. (Nasdaq: ECX) is a leading global automotive technology provider dedicated to delivering advanced solutions for the next generation of smart vehicles. Founded in 2017 and publicly listed on the Nasdaq in 2022, ECARX has rapidly scaled its operations with over 2,000 employees spread across 12 major locations, including China, the UK, USA, Sweden, Germany, and Malaysia.
At the core of ECARX's business are their system-on-chip (SoC) core modules, automotive computing platform products, and comprehensive software stacks. Their key offerings include infotainment head units, digital cockpits, vehicle chip-set solutions, and an integrated core operating system. Committed to automotive intelligence and networking, they are actively developing a full-stack automotive computing platform designed to enhance user experience while reducing complexity and cost.
ECARX's recent accomplishments highlight their innovative prowess and industry impact. In April 2024, ECARX announced a strategic partnership with China FAW Group Co., Ltd. to develop next-generation intelligent cockpits for the premium Hongqi brand of vehicles. This collaboration aims to set new benchmarks in the industry through joint research and development efforts. In May 2024, ECARX celebrated the first deliveries of the Lynk & Co 07 EM-P sedan, which integrates ECARX’s full-stack solution for digital cockpits and advanced driver-assistance systems (ADAS), including their proprietary Antora® 1000 Pro, Skyland Pro, and Flyme Auto technologies.
ECARX's strategic partnerships extend beyond FAW Group to include prominent automotive brands such as Lotus, Lynk & Co, Polestar, Smart, and Volvo Cars. These collaborations are a testament to ECARX's reputation for quality and innovation in the automotive tech industry.
For stakeholders and investors, ECARX provides a transparent and accessible view of its financial health and strategic direction. The company's annual report, containing audited consolidated financial statements, is available on the ECARX investor relations website. They also offer hard copies free of charge upon request.
With a solid foundation and a focus on innovation, ECARX continues to drive advancements in automotive technology, ensuring their products and solutions remain at the forefront of the industry.
ECARX Holdings, Inc. (Nasdaq: ECX), a global mobility tech provider, has announced it will release its financial results for the second quarter ended June 30, 2024, before U.S. markets open on Thursday, August 8, 2024. The company will host an earnings conference call and live audio webcast on the same day at 8:00 a.m. U.S. ET to discuss the results and answer questions from analysts and investors. Participants can join via webcast or dial-in numbers provided for various regions. A replay of the event and presentation materials will be available on ECARX's investor relations website after the call.
ECARX (Nasdaq: ECX) and DXC Luxoft (NYSE: DXC) have announced a partnership aimed at enhancing in-vehicle capabilities for automotive manufacturers. This collaboration will focus on developing advanced infotainment, digital cockpit, and driver assistance systems.
By combining ECARX's full-stack digital cockpit and driver assistance technology with DXC Luxoft’s software integration expertise, the partnership aims to improve user experiences for drivers. The alliance will enable automotive OEMs to leverage software-defined vehicles' capabilities, providing access to a comprehensive ecosystem of apps and AI-powered voice assistants.
ECARX will contribute its turnkey solutions, including computing platforms and central computing technology, while DXC Luxoft will offer customized software integration. This partnership is set to accelerate the transformation of automotive business models and foster innovation in user experience.
ECARX Holdings Inc. (Nasdaq: ECX) has announced an enhanced partnership with Tencent Smart Transportation, the smart mobility division of Tencent Holdings (HKEX: 0700). This collaboration aims to develop advanced intelligent driving and cockpit solutions by integrating ECARX's automotive intelligence with Tencent’s technologies in big data, cloud computing, AI, mapping services, and infotainment. Beginning with the integration of Tencent’s cloud-based maps and ecosystem, both firms will create a platform for training and operating automotive intelligence large language models. The partnership, originating in 2019, seeks to innovate and expand the intelligent cockpit experience for a global range of automakers. CEO Ziyu Shen emphasized that this collaboration will enhance their ecosystem and set new industry benchmarks.
ECARX Holdings announced that its Antora 1000 computing platform will be used in Geely's new Galaxy E5 SUV, which debuted today. The platform, which features the 7nm SE1000 SoC, offers 100K DMIPS computing power and 900G FLOPS graphics rendering capability. It integrates digital cockpit and parking capabilities, ensuring a cost-effective high-quality in-car experience and seamless connectivity with Flyme Auto. This integration helps reduce material costs without compromising safety or efficiency. CEO Ziyu Shen highlighted the growing demand for ECARX’s solutions and the important role of partnerships in driving technological innovation.
ECARX Holdings announced the commencement of deliveries for the Lynk & Co 07 EM-P sedan in China, starting on May 17, 2024. The vehicle features ECARX's advanced digital cockpit and ADAS solutions, including Antora® 1000 Pro, Skyland Pro, and Flyme Auto. Unveiled at the Beijing Auto Show in April 2024, the 07 EM-P received over 10,000 orders. Combined orders for the 07 EM-P and the previously launched 08 EM-P exceeded 7,800 units over the Chinese Labor Day holiday. ECARX's solutions are designed to reduce costs while enhancing safety and efficiency, and Flyme Auto ensures seamless smartphone integration. ECARX plans to expand these technologies globally with potential integrations with Google Automotive Services.
ECARX Holdings (Nasdaq: ECX) reported its unaudited Q1 2024 financial results, showing a 21% YoY revenue growth to RMB927.9 million (US$128.5 million). Sales of goods revenue surged 27%, driven by new digital cockpit programs and ADCU sales. However, software license revenue fell 26%, while service revenue increased by 39%. Despite higher revenues, gross profit declined by 2% due to a decrease in gross margin to 22%, attributed to a penetration pricing strategy and changes in revenue mix. Net loss widened to RMB302.2 million (US$42.0 million), and adjusted EBITDA loss increased to RMB222.0 million (US$30.8 million). The company strengthened global partnerships, expanded its customer base, and launched new products, including computing platforms and LiDAR technologies, but faced higher R&D and administrative expenses.
ECARX Holdings Inc. (Nasdaq: ECX) announced the launch of intelligent driving and safety features for its Skyland Pro platform, improving the driving experience. The update includes L2+ assisted driving and parking features, advanced safety features, and future plans for urban driving. The company aims to reduce engineering costs for automakers and stay ahead in technological advancements.
ECARX Holdings, Inc. (Nasdaq: ECX), a global mobility tech provider, will report its financial results for Q1 2024 on May 20, 2024. The earnings conference call will discuss the results and address questions from analysts and investors.
The webcast details are as follows:
Date: Monday, May 20, 2024
Time: 8:00am EST
Webcast: Link
Join the live conference call by registering here at least 15 minutes in advance. Audio replay and presentation materials will be available on ECARX's investor relations website.
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