ECARX completes first market raise since 2022 Nasdaq listing; will use the funds to accelerate global expansion
ECARX (Nasdaq: ECX) has successfully completed its first public offering since its 2022 Nasdaq listing, raising USD 45 million through the sale of Class A Ordinary Shares. The funding will support the company's global expansion and enhance R&D, supply chain management, and manufacturing capabilities.
The mobility technology company reported strong performance in 2024, with an 18% year-on-year revenue increase and 33% growth in shipments. ECARX achieved breakeven EBITDA in Q4 2024 and projects positive EBITDA for full-year 2025. The company secured a new program from a global automaker in late 2024.
With current operations in Gothenburg, Stuttgart, San Diego, Kuala Lumpur, and London, ECARX plans to expand to Singapore. The company focuses on software-defined vehicle technology, offering solutions for intelligent cockpit features, assisted driving, and AI-enriched capabilities.
ECARX (Nasdaq: ECX) ha completato con successo la sua prima offerta pubblica dopo la quotazione del 2022 al Nasdaq, raccogliendo 45 milioni di USD attraverso la vendita di azioni ordinarie di Classe A. I fondi serviranno a sostenere l'espansione globale dell'azienda e a migliorare la R&D, la gestione della catena di approvvigionamento e le capacità produttive.
La società tecnologica per la mobilità ha riportato una forte performance nel 2024, con un aumento del fatturato del 18% anno su anno e una crescita del 33% nelle spedizioni. ECARX ha raggiunto un EBITDA in pareggio nel Q4 2024 e prevede un EBITDA positivo per l'intero anno 2025. L'azienda ha ottenuto un nuovo programma da un produttore automobilistico globale alla fine del 2024.
Con operazioni attuali a Göteborg, Stoccarda, San Diego, Kuala Lumpur e Londra, ECARX prevede di espandersi a Singapore. L'azienda si concentra sulla tecnologia dei veicoli definiti dal software, offrendo soluzioni per funzionalità intelligenti del cockpit, guida assistita e capacità arricchite dall'IA.
ECARX (Nasdaq: ECX) ha completado con éxito su primera oferta pública desde su cotización en Nasdaq en 2022, recaudando 45 millones de USD a través de la venta de acciones ordinarias de Clase A. Los fondos apoyarán la expansión global de la empresa y mejorarán la I+D, la gestión de la cadena de suministro y las capacidades de fabricación.
La empresa de tecnología de movilidad reportó un sólido desempeño en 2024, con un aumento del 18% en los ingresos interanuales y un crecimiento del 33% en los envíos. ECARX logró un EBITDA de equilibrio en el cuarto trimestre de 2024 y proyecta un EBITDA positivo para todo el año 2025. La compañía aseguró un nuevo programa de un fabricante de automóviles global a finales de 2024.
Con operaciones actuales en Gotemburgo, Stuttgart, San Diego, Kuala Lumpur y Londres, ECARX planea expandirse a Singapur. La empresa se centra en la tecnología de vehículos definidos por software, ofreciendo soluciones para características de cockpit inteligentes, conducción asistida y capacidades enriquecidas por IA.
ECARX (Nasdaq: ECX)는 2022년 Nasdaq 상장 이후 첫 번째 공모를 성공적으로 완료하고 4,500만 달러를 클래스 A 보통주 판매를 통해 조달했습니다. 이 자금은 회사의 글로벌 확장을 지원하고 연구 개발, 공급망 관리 및 제조 능력을 강화하는 데 사용될 것입니다.
모빌리티 기술 회사는 2024년에 강력한 성과를 보고했으며, 전년 대비 18% 매출 증가와 33% 출하 성장을 기록했습니다. ECARX는 2024년 4분기에 손익 분기점 EBITDA를 달성했으며, 2025년 전체 연도에 긍정적인 EBITDA를 예측하고 있습니다. 이 회사는 2024년 말에 글로벌 자동차 제조업체로부터 새로운 프로그램을 확보했습니다.
현재 예테보리, 슈투트가르트, 샌디에이고, 쿠알라룸푸르, 런던에서 운영 중인 ECARX는 싱가포르로 확장할 계획입니다. 이 회사는 소프트웨어 정의 차량 기술에 중점을 두고 있으며, 지능형 조종석 기능, 보조 운전 및 AI 강화 기능을 위한 솔루션을 제공합니다.
ECARX (Nasdaq: ECX) a réussi à réaliser sa première offre publique depuis son inscription au Nasdaq en 2022, levant 45 millions USD grâce à la vente d'actions ordinaires de Classe A. Ce financement soutiendra l'expansion mondiale de l'entreprise et améliorera la R&D, la gestion de la chaîne d'approvisionnement et les capacités de fabrication.
La société de technologie de mobilité a rapporté une forte performance en 2024, avec une augmentation de 18% des revenus par rapport à l'année précédente et une croissance de 33% des expéditions. ECARX a atteint un EBITDA à l'équilibre au quatrième trimestre 2024 et prévoit un EBITDA positif pour l'année entière 2025. L'entreprise a obtenu un nouveau programme d'un constructeur automobile mondial à la fin de 2024.
Avec des opérations actuelles à Göteborg, Stuttgart, San Diego, Kuala Lumpur et Londres, ECARX prévoit de s'étendre à Singapour. L'entreprise se concentre sur la technologie des véhicules définis par logiciel, offrant des solutions pour des fonctionnalités de cockpit intelligentes, la conduite assistée et des capacités enrichies par l'IA.
ECARX (Nasdaq: ECX) hat erfolgreich seine erste öffentliche Angebot nach der Nasdaq-Notierung im Jahr 2022 abgeschlossen und 45 Millionen USD durch den Verkauf von Stammaktien der Klasse A gesammelt. Die Mittel werden die globale Expansion des Unternehmens unterstützen und die F&E, das Lieferkettenmanagement und die Produktionskapazitäten verbessern.
Das Mobilitätstechnologieunternehmen berichtete 2024 von einer starken Leistung mit einem 18%igen Umsatzanstieg im Jahresvergleich und 33% Wachstum bei den Lieferungen. ECARX erzielte im vierten Quartal 2024 ein EBITDA auf Break-even-Niveau und prognostiziert ein positives EBITDA für das gesamte Jahr 2025. Das Unternehmen sicherte sich Ende 2024 ein neues Programm von einem globalen Automobilhersteller.
Mit aktuellen Standorten in Göteborg, Stuttgart, San Diego, Kuala Lumpur und London plant ECARX eine Expansion nach Singapur. Das Unternehmen konzentriert sich auf technologie-definierte Fahrzeuge und bietet Lösungen für intelligente Cockpit-Funktionen, assistiertes Fahren und KI-unterstützte Fähigkeiten an.
- Successful USD 45 million funding raise despite market volatility
- 18% year-on-year revenue growth in 2024
- 33% increase in shipments year-on-year
- Achieved breakeven EBITDA in Q4 2024
- Secured new program from global automaker
- Projected positive EBITDA for full-year 2025
- Dilution of existing shareholders through new share issuance
Insights
ECARX's $45 million public offering represents a significant capital injection for this $804 million market cap company, effectively raising about 5.6% of its market value. The successful closing amid described market volatility signals investor confidence in the company's growth trajectory and strategic direction.
The company's financial metrics show encouraging momentum. The
This capital raise comes at a strategic inflection point as ECARX transitions from regional player to global competitor. The funds will accelerate international expansion of R&D, supply chain and manufacturing capabilities beyond existing operations in Sweden, Germany, US, Malaysia and UK. Their stated objective to generate more than half of revenue from global markets within 5-10 years represents a material diversification of geographical revenue risk.
The market for software-defined vehicles and automotive AI solutions is experiencing rapid growth, and ECARX's early focus in this domain positions them to capitalize on this structural shift in the industry. The new program awarded from a global automaker further validates their technology offering and enhances revenue visibility.
Intelligent automotive technology leader to build on successful Q4, new business partnerships and market momentum with new funding, improving global capabilities
LONDON, April 01, 2025 (GLOBE NEWSWIRE) -- ECARX (Nasdaq: ECX), a leading global mobility technology company, has announced the completion of an underwritten public offering generated by the sale of new Class A Ordinary Shares for gross proceeds totalling USD 45 million.
This is the first market raise for ECARX since its public listing on the Nasdaq in December 2022.
Despite continuing geopolitical disruptions in automotive markets, and increased US market volatility impacting other market deals, the offer was fully subscribed and closed successfully on March 31 as planned.
The funds will accelerate ECARX’s global expansion, and the deployment of further global R&D, supply chain management and manufacturing capability. Founded in 2017, ECARX now has global locations in Gothenburg, Stuttgart, San Diego and Kuala Lumpur, with an operations center in London, and further plans to expand with an office in Singapore.
The raise comes after the company’s 2024 earnings announcement, which highlighted the progress made by ECARX since its listing, through a strategy of technological innovation and global expansion. ECARX reported an
Alongside commercial progress, ECARX also improved its financial performance, delivering breakeven EBITDA in the final quarter of 2024, and expressed confidence in delivering positive EBITDA in full year 2025.
ECARX technology and innovations enable and accelerate the future of the software-defined vehicle, empowering OEMs to enhance the user experience, with full-stack solutions encompassing innovative intelligent cockpit features, assisted and autonomous driving, and AI-enriched features.
Ziyu Shen, Chairman and CEO of ECARX, said:
“2024 saw ECARX achieve significant revenue growth, and growth across our global markets. This funding will allow us to increase our global momentum into 2025 and beyond.
“We will continue our global expansion by building R&D, supply chain and manufacturing, creating a complete worldwide value chain, with the intention of generating more than half our revenue from global markets as we enter the next decade.
“The future of mobility is the software-defined vehicle, and the software-defined vehicle will be defined in turn by AI. By focusing early on automotive AI, ECARX is uniquely positioned not only to meet the growing demand for AI in in-car voice agents, self-optimising interfaces and intelligent driving solutions, but to shape it. This investment will help us to extend our leadership in AI solutions, and to make the future of transportation truly intelligent.”
More information on the offering can be found on the ECARX Investor Relations website at ir.ecarxgroup.com.
About ECARX
ECARX (Nasdaq: ECX) is a global automotive technology provider with capabilities to deliver turnkey solutions for next-generation smart vehicles, from the system on a chip (SoC), to central computing platforms, and software. As automakers develop new electric vehicle architectures from the ground up, ECARX is developing full-stack solutions to enhance the user experience, while reducing complexity and cost.
Founded in 2017 and listed on the Nasdaq in 2022, ECARX now has over 1,900 employees based in 12 major locations in China, UK, USA, Sweden and Germany. To date, ECARX products can be found in over 8.1 million vehicles worldwide.
Safe Harbor Statement
This release contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which we operate. The use of words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “preliminary,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to statements regarding our intentions, beliefs, or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, and the markets in which we operate.
For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statement, see ECARX’s filings with the U.S. Securities and Exchange Commission. ECARX undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law.
Investor Contacts:
Rene Du
ir@ecarxgroup.com
Media Contacts:
ecarx@christensencomms.com
FAQ
How much did ECARX (ECX) raise in its latest public offering?
What was ECARX's revenue growth in 2024?
When did ECARX achieve breakeven EBITDA?
What are ECARX's expansion plans following the funding?
What was ECARX's shipment growth in 2024?
