![]() ![]() However, there are still many problems with the application of ECARX’s products. SEE ALSO: ECARX Secures $65M Prior to Listing in Merge With COVA Acquisition Corp In December of last year, the company’s first 7nm intelligent cockpit chip was launched, and the next generation of products is expected to be commercialized in 2024. As early as 2018, ECARX and Arm China established SiEngine Technology to focus on three product lines – intelligent cockpit chips, automatic driving chips and vehicle-mounted CPU chips. ECARX also intends to incubate key suppliers, so as to enhance its comprehensive competitiveness. Shen also publicly stated that the company accelerates its global expansion through financing and technology.ĮCARX achieved revenue of $415 million in 2021, and is expected to achieve adjusted profit before tax, interest, depreciation and amortization before the end of 2024. In 2020, it established a branch and R&D center in Gothenburg, Sweden, to open up the European market. ![]() In 2019, it established joint ventures with Proton Automobile and ALTEL of Malaysia to deepen its overseas layout. Since its inception, ECARX has been determined to serve global consumers. Its technology has been applied to more than 3.7 million vehicles worldwide, serving 12 brands in Asia and Europe. Headquartered in Wuhan, its core products include on-board infotainment system, digital cockpit, on-board chip module solution and core operating system. ![]() Prior to this, ECARX completed three rounds of financing worth about $650 million from Geely, Baidu, SIG and others.ĮCARX’s co-founders are two automotive entrepreneurs, Chairman and CEO Ziyu Shen and Eric Li, who is also the founder and chairman of Geely. In the transaction in May, the equity value of ECARX was $3.4 billion, and it received $300 million in cash held by COVA in the form of trust, and $45 million in additional financing from investors including Geely Holding, Luminar and Lotus Technology. The new entity retains the ECARX name and its shares and warrants have commenced trading under the symbols “ECX” and “ECXWW.”Īs early as May of this year, ECARX announced the signing of a merger agreement with COVA. Goldman Sachs Trims Price Target on Luminar Technologies to $4.ECARX Holdings, a Chinese automotive technology startup, listed its shares on the Nasdaq on December 21 alongside special purpose acquisition company COVA Acquisition Corp. ![]() Luminar Announces New Automated, High Volume Factory Begins Building Sensors Luminar Technologies Says Monterrey Facility in Mexico Starts Production Luminar Technologies Partners With TPK to Build, Operate Factory in Asia Jefferies Assumes Luminar Technologies at Buy With $12 Price Target announced that it expects to receive $10 million in funding from Improve Idea Investments Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023Įarnings Flash (LAZR) LUMINAR Posts Q1 Revenue $14.5M, vs. Provides Revenue Guidance for the Full Year 2023 Transcript : Luminar Technologies, Inc., Q1 2023 Earnings Call, May 09, 2023 Luminar Technologies' Q1 Loss Widens, Revenue Climbs 2023 Revenue Growth Maintained Rosenblatt Adjusts Luminar Technologies' Price Target to $6 From $8, Keeps Neutral Rating Luminar Tech CEO to acquire majority stake in Forbes - WSJ Global markets live: Vodacom, Newmont, Tesla, General Motors. Morgan’ s Global Technology, Media and Communications Conference 2023, May-22-2023 03:50 PMĬitigroup Adjusts Luminar Technologies Price Target to $18 From $19, Maintains Buy Rating Luminar and Plus Partner for LiDAR and AI-Based Assisted Driving Software for Trucking Presents at Global Auto Industry Conference, Jun-14-2023 12:50 PM ![]()
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