Ecarx partnering with Volvo to develop intelligent systems
Chinese technology startup Ecarx, which raised more than US$200 million in its latest round of fundraising in February, plans to establish a joint venture with Volvo to work on in-vehicle intelligent systems, the company announced on Wednesday.
The partnership is expected to begin operations in the third quarter, led by Jan-Erik Larsson, currently the head of research and development for Volvo in China. Headquartered in Gothenburg, Sweden, it will initially employ around 100 people.
Founded in 2016, Ecarx is an automotive intelligence technology company headquartered in Hangzhou, Zhejiang Province, with more than 1,700 employees. It has developed Android-based “infotainment” systems for automotive companies such as Geely, Lynk & Co and Proton.
With the new joint venture, Ecarx hopes to expand its global footprint, improve cost efficiencies and create new revenue streams, said Shen Ziyu, the company's chief executive.
The partnership is an important step for Ecarx's globalization strategy, Shen said.
The company's products include self-developed vehicle chipsets, intelligent cockpits, smart driving systems, high-definition maps, big data and vehicle-oriented cloud networks. It has received investment from firms like Baidu, SIG and the China Venture Capital Fund.