Ecarx increases stake in JICA Intelligent Robotics

ECARX announced its intention to increase its investment and take a controlling stake in JICA Intelligent Robotics. The transaction is expected to accelerate revenue growth for ECARX with new products to further penetrate Geely’s ecosystem and beyond. This transaction sets a clear vision for ECARX and JICA, allowing both businesses to strengthen their collaboration while focusing on their core competencies. The transaction agreements were signed on June 30, 2023 pursuant to which ECARX’s total equity stake will increase from 50% to 70%. The strategic rationale for ECARX is threefold: it accelerates ECARX’s efforts to grow revenue and diversify its customer base; it brings JICA’s capabilities into ECARX’s portfolio of products, further advancing its ADAS capabilities; and it further optimizes ECARX’s research and development capabilities.