Ecarx Technology Completes Initial Public Offering

Ecarx Technology successfully completed a $45 million public offering, its first public offering since listing on Nasdaq in December 2022. The funds raised will be used to accelerate the construction of a global R&D system and establish an overseas supply chain. Ecarx Technology's full-year revenue in 2024 increased by 18% year-on-year, and total shipments climbed 33% year-on-year, and won new project orders from world-renowned automakers at the end of the year.