Geely-backed ECARX sees 16% YoY jump in Q1 2023 revenue

Beijing (Gasgoo)- ECARX, the Chinese automotive intelligent solution developer backed by Geely, on June 12 released its financial report for the first quarter of 2023, revealing impressive growth. 

The data indicates that ECARX achieved a total revenue of 762.9 million yuan in the first quarter, marking a 16% year-on-year increase. Additionally, the company's gross profit reached 210.8 million yuan, jumping 52% from a year ago.

Photo credit: ECARX

ECARX attributes the robust performance to the strong upgrade of its product portfolio and its deep focus on intelligent cockpit products. Its strategy has led to increased sales of the new digital cockpit, enabling the company to gradually transition its product portfolio from in-vehicle infotainment systems to higher-priced intelligent digital cockpits.

As of March 31, 2023, ECARX's technological products have been integrated into approximately five million vehicle models, including the European market-oriented smart#1 and the Lotus Eletre pure-electric SUV. 

On March 24, ECARX unveiled four major solutions, the intelligent cockpit computing platform Antora, the cross-domain system capability base Cloudpeak, the next-generation intelligent cockpit computing platform Makalu, and the automotive central computing platform Super Brain. Progress updates on these solutions and related research and development were also shared.

Among them, the Antora 1000 has been selected by FAW Hongqi for its future mass-produced models. The Antora 1000 Pro was deployed onto the Lynk & Co 08. The ECARX Cloudpeak software platform will be applied to Volvo's new pure electric model, the EX30, in its in-vehicle infotainment system. Additionally, the Makalu platform is planned to be integrated into smart's electric mass-produced models in 2024.