Ecarx to receive $45.6m investment from Geely Holding

Investment Agreement - Ecarx Holdings has signed a subscription agreement with Geely Holding for a strategic investment of $45.6 million [1] - Geely will purchase approximately 27.29 million newly issued Class A ordinary shares at a price of $1.67 per share [1][2] Financial Details - The issue price reflects the volume-weighted average price of Ecarx's ordinary shares on Nasdaq over the 20 trading days prior to the agreement [2] - The private placement is subject to customary closing conditions and is expected to complete in the near term [2] Strategic Goals - Ecarx plans to use the net proceeds from the investment to accelerate the development of its vehicle hardware and software offerings [3] - The company aims to build out its R&D hub in Germany and expand infrastructure in South America and Southeast Asia [3][4] Market Position - Ecarx has established itself as a key technology partner in the global automotive industry, as noted by Geely's executive vice chairman [5] - The investment reflects Geely's confidence in Ecarx's long-term vision and technological capabilities [5]