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

Core Viewpoint - ECARX Holdings Inc. has successfully completed a public offering of 25 million Class A ordinary shares at a price of $1.80 per share, with an option for underwriters to purchase an additional 3.75 million shares [1][2]. Company Overview - ECARX is a global automotive technology provider specializing in delivering comprehensive solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [5]. - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,900 people across 12 major locations worldwide, including China, the UK, the USA, Sweden, and Germany [6]. - The company is co-founded by Ziyu Shen and Eric Li, who is also the chairman of Zhejiang Geely Holding Group, which owns several global automotive brands [6]. - ECARX's products are currently integrated into over 8.1 million vehicles globally, collaborating with notable automakers such as Volkswagen Group, FAW, and Dongfeng Peugeot-Citroën [6]. Offering Details - The offering was conducted under the company's shelf registration statement on Form F-3, which was approved by the SEC on December 27, 2024 [3]. - The net proceeds from the offering will primarily be allocated to research and development initiatives, establishing overseas supply chain networks, and general corporate purposes [4].