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SHANGHAI - ECARX Holdings Inc. (NASDAQ: ECX), a global mobility technology provider with a market capitalization of $417 million, has announced that its advanced computing platform and software stack are powering the newly launched Hongqi Tiangong 06 all-electric SUV. This is the second vehicle release following the strategic partnership with FAW Group, aimed at developing next-generation intelligent cockpits for the premium Hongqi vehicle brand. According to InvestingPro data, ECARX has demonstrated strong revenue growth of 18.33% in the last twelve months.
The Antora® 1000 Pro computing platform, coupled with the Cloudpeak® software stack, is at the core of the Tiangong 06’s intelligent cockpit, offering an AI-driven user experience. This integration builds upon the success of the Tiangong 05, which hit the market in February 2025, and is expected to be a standard across future Hongqi models.
Ziyu Shen, Chairman and CEO of ECARX, stated that the rapid deployment of their solutions in the Tiangong 06 underscores the company’s ability to provide scalable and cost-effective technologies to automakers. He emphasized ECARX’s early investment in automotive AI as instrumental in shaping the future of intelligent vehicle experiences. The company maintains a healthy gross profit margin of 20.75%, though InvestingPro analysis indicates potential challenges with short-term obligations.
ECARX, founded in 2017 and listed on NASDAQ in 2022, specializes in turnkey solutions for smart vehicles, including system on a chip (SoC), central computing platforms, and software. The company’s goal is to enhance user experience in electric vehicles while streamlining complexity and reducing costs. With over 1,900 employees worldwide, ECARX’s products are now utilized in more than 8.1 million vehicles globally.
The press release also contained forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ. These statements are based on current management expectations and are not guarantees of future performance. While the company faces current profitability challenges, InvestingPro analysts project potential profitability in the coming year. For detailed insights and 14 additional ProTips about ECARX’s financial health and market position, investors can access the comprehensive Pro Research Report available on InvestingPro.
This announcement is based on a press release statement from ECARX Holdings Inc. and does not constitute an endorsement of the company or its products.
In other recent news, ECARX Holdings Inc. reported a 4% year-over-year increase in Q4 2024 revenue, totaling RMB 1.9 billion, and achieved EBITDA breakeven, marking a significant milestone for the company. The full-year revenue rose by 18% to RMB 5.6 billion, demonstrating strong performance in the automotive technology sector. The company also announced a public offering of 25 million Class A ordinary shares at $1.80 each, with an option for underwriters to purchase an additional 3.75 million shares. Deutsche Bank AG and China International Capital Corporation are leading the underwriting for this offering. The proceeds are intended for research and development, overseas supply chain expansion, and general corporate purposes. In addition to financial updates, ECARX has secured a new project with Volkswagen Group, expanding its global customer base. The company’s technology is integrated into over 8.1 million vehicles worldwide, with partnerships including Volkswagen, FAW, and Dongfeng Peugeot-Citroën. These developments underscore ECARX’s strategic focus on innovation and expansion in the global market.
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