Ecarx Holdings Stock Price, News & Analysis

ECARX Holdings Inc. (Nasdaq: ECX), a global mobility tech provider, has partnered with MulticoreWare Inc. to optimize algorithms for intelligent driving solutions on multi-core heterogeneous compute platforms. The collaboration aims to enhance performance for ECARX's advanced driving systems, integrating CPU, GPU, and DSP technologies. MulticoreWare has already achieved significant optimization of ECARX's vehicle software algorithms, now operational in the Lynk & Co 08 EM-P with positive market feedback.

The partnership focuses on improving edge intelligent driving systems, enhancing response times and accuracy, while accelerating time-to-market for mass production. This collaboration underscores ECARX's commitment to creating a robust ecosystem with automotive software and hardware manufacturers, driving mutual success and advancing the development of cutting-edge AI technologies for the global automotive industry.

ECARX Holdings Inc. (Nasdaq: ECX) reported strong Q2 2024 financial results, with total revenue up 31% YoY to RMB1,257.5 million (US$173.0 million). Key highlights include:

- Over 6.9 million vehicles on the road now incorporate ECARX technology, a 32% increase from last year.
- Sales of goods revenue increased 41% YoY to RMB943.6 million (US$129.8 million).
- Service revenue grew 45% YoY to RMB257.4 million (US$35.4 million).
- Gross profit decreased 3% YoY to RMB291.5 million (US$40.1 million) with a 23% gross margin.
- Net loss widened to RMB306.4 million (US$42.3 million).

ECARX secured new design wins, expanded partnerships with Tencent Smart Transportation and DXC Luxoft, and launched production at its Fuyang facility. The company remains confident in its growth trajectory and market positioning.

ECARX Holdings Inc. has sold its 40% minority stake in HaleyTek AB to Volvo Car . HaleyTek, originally a joint venture between ECARX and Volvo Cars, develops software for Android-powered infotainment systems. Despite the sale, ECARX will continue to collaborate with Volvo Cars and HaleyTek on developing automotive software solutions.

The partnership, established in 2021, has already produced world-leading software for in-vehicle infotainment, enhancing the driving experience in Volvo Cars and Polestar vehicles. Moving forward, ECARX will work directly with Volvo Cars on various projects, building upon HaleyTek's achievements to deliver a wider range of industry-leading solutions.

ECARX Holdings Inc. (Nasdaq: ECX), a global mobility tech provider, has announced a change in its board of directors. Mr. Tao Li has been appointed as a new director, effective July 29, 2024, replacing Mr. Tan Su, who resigned due to personal reasons. Mr. Li brings significant experience from his tenure at Baidu, where he led R&D efficiency and enterprise IT platform initiatives, focusing on AI technology applications. Since 2024, he has been serving as the general manager of Baidu's Apollo intelligent cockpit business. Mr. Li holds bachelor's and master's degrees from Harbin Engineering University.

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.