ECARX Highlights Q4 2024 EBITDA Breakeven, Positive EBITDA 2025 Outlook, and Global Expansion at Investor Day 2025

Core Viewpoint - ECARX Holdings Inc. showcased its financial milestones and strategic initiatives for 2024, emphasizing its vision for growth and confidence in achieving positive EBITDA for 2025 during its Investor Day 2025 event in Hong Kong [1][2]. Financial Milestones - ECARX achieved breakeven at the EBITDA level in Q4 2024, with total revenue growing 18% year-over-year to RMB 5.6 billion [3]. - The gross margin for 2024 was 21%, reflecting improvements in product cost optimization and operational efficiency [3]. - Total shipments reached a record high of 2 million units in 2024, marking a 33% year-over-year increase, with Q4 shipments alone totaling over 700,000 units, up 10% from the previous quarter [3]. Global Expansion - ECARX secured a new project with Volkswagen Group to deploy a complete digital cockpit solution in vehicles launching in Brazil and India by the end of the decade [5]. - The company expanded its global customer base to 18 automakers across 28 brands, including Skoda, Volvo, and Mazda [6]. - ECARX established European headquarters in London and R&D centers in Sweden, Germany, and the US, with plans for an office in Singapore [6]. Technological Innovation - ECARX's R&D roadmap aligns with trends in software-defined vehicles and E/E architecture, with R&D expenses consistently accounting for 15-20% of total revenue [7]. - The company has expanded its product offerings with advanced solutions like the Skyland Pro intelligent driving solution and AutoGPT, enhancing the in-vehicle experience [7]. - ECARX's Cloudpeak software solution integrates multiple operating systems to optimize user experience, validated by global vehicle launches [8]. Positive Outlook for 2025 - Management expressed confidence in achieving positive EBITDA for the full year 2025, focusing on R&D investment, product cost optimization, and operational efficiency [10]. - The company aims to balance revenue growth, profitability, and capital investment to ensure sustainable growth in 2025 [10].