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Geely invests US$50 million in tech company ECARX

Amenda From Gasgoo| September 08 , 2021 08:59 BJT

Beijing (Gasgoo)- Geely Automobile Holdings Limited has signed a strategic investment agreement with auto intelligence technology company ECARX Technology Co. Ltd., the automaker announced on Tuesday.

Geelygeely investment, geely ECARX, China automotive news

Under the agreement, Geely will invest about US$50 million for the tech company’s 1.51% stake via leading ECARX’s B funding round. With the investment, Geely’s latest move in the field of auto intelligence, both parties will work closely to build industry-leading intelligent and connected open platform for much more intelligent and safer mobility user experience.

Established in 2016, ECARX commits itself to building an open ecosystem platform for intelligent and connected vehicles with a focus on solutions that encompass the SoC, cockpit and vehicle operating systems, software, autonomous drive solutions and also vehicle driving chip sets.

In 2020 and 2021, the tech company has received strategic investment from Baidu, SIG (Susquehanna International Group, LLP), CVC (Corporate Venture Capital) and Hubei Changjiang Jingkai V2X Industry Fund LLP.

Currently, the tech company has set up offices in Hangzhou, Beijing, Shanghai, Wuhan, and Dalian in China and Gothenburg in Sweden.

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