ECARX completes first market raise since 2022 Nasdaq listing; will use the funds to accelerate global expansion

Core Insights - ECARX has successfully completed a public offering of new Class A Ordinary Shares, raising gross proceeds of USD 45 million, marking its first market raise since its Nasdaq listing in December 2022 [1][2] - The funds will be utilized to accelerate global expansion and enhance R&D, supply chain management, and manufacturing capabilities [3][4] - In 2024, ECARX reported an 18% year-on-year increase in revenue and a 33% year-on-year increase in shipments, achieving breakeven EBITDA in Q4 2024 and projecting positive EBITDA for the full year 2025 [4][5] Company Overview - Founded in 2017, ECARX is a global automotive technology provider with operations in multiple countries, including the UK, USA, Sweden, and Germany, and plans to expand further into Singapore [3][9] - The company focuses on developing full-stack solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [8] - ECARX's products are currently integrated into over 8.1 million vehicles worldwide [9] Strategic Vision - The company aims to generate more than half of its revenue from global markets as it enters the next decade, emphasizing the importance of AI in shaping the future of mobility [6][7] - ECARX is positioned to meet the growing demand for AI-driven automotive solutions, including in-car voice agents and intelligent driving technologies [7]