ECARX Holdings Inc. Announces Pricing of Offering of 25,000,000 Class A Ordinary Shares

Core Viewpoint - ECARX Holdings Inc. has announced a public offering of 25,000,000 Class A ordinary shares at a price of US$1.80 per share, with an option for underwriters to purchase an additional 3,750,000 shares [1][2]. Group 1: Offering Details - The offering is conducted under the Company's shelf registration statement on Form F-3, which was declared effective by the SEC on December 27, 2024 [3]. - The net proceeds from the offering will primarily be used for research and development initiatives, establishing overseas supply chain networks, and general corporate purposes [4]. Group 2: Company Overview - ECARX is a global automotive technology provider that delivers turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [6]. - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,900 employees across 12 major locations worldwide, including China, the UK, the USA, Sweden, and Germany [7]. - The co-founders include Ziyu Shen and Eric Li, who is also the founder and chairman of Zhejiang Geely Holding Group, which has ownership interests in several global automotive brands [7]. - ECARX products are currently found in over 8.1 million vehicles globally, collaborating with notable automakers such as Volkswagen Group, FAW, and Dongfeng Peugeot-Citroën [7].