ECARX Signs Components Procurement and R&D Services Agreement with Geely Auto

Core Insights - ECARX Holdings, Inc. has entered into a components procurement and R&D services agreement with Geely Automobile Holdings Limited, Zhejiang HUANFU, and Hangzhou Langge to enhance driving technology systems for new energy vehicles [1] - The agreement spans three years, with annual caps of RMB6,387.281 million, RMB6,430.855 million, and RMB6,489.889 million for 2025, 2026, and 2027 respectively, exempting these amounts from independent shareholder approval [1] - ECARX aims to be a reliable source of components and R&D support for Geely Auto brands while also expanding its services to other brands like Volvo, smart, Lotus, and Polestar [2] Company Overview - ECARX is a global automotive technology provider specializing in turnkey solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [3] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,800 people across 12 major locations worldwide [4] - The company was co-founded by Ziyu Shen and Eric Li, who is also the chairman of Zhejiang Geely Holding Group, which owns several global automotive brands [4] - ECARX products are currently utilized in over 7.3 million vehicles globally [4]