ECX News & Events

Ecarx and TPK Holding have signed a binding memorandum of business cooperation on the joint development of LiDAR technologies for global markets, marking Ecarx's formal entry into the LiDAR sector. Under the agreement, the parties will co-develop the ORCA LiDAR platform, a proprietary sensor system engineered to meet stringent global regulatory and functional safety standards. Mass production is scheduled to kick off in 2028, with manufacturing to be conducted at TPK's advanced production facility in Thailand.

Reports Q1 revenue $131.5M vs. $167.7M last year. Ziyu Shen, Ecarx CEO, commented, "The first quarter of 2026 was defined by continued disciplined execution and continued global momentum, demonstrating the underlying resilience of our core business. Despite traditional seasonality and a complex macroeconomic environment marked by memory component inflation, our disciplined execution mitigated the modest impact on our topline into meaningful profitability improvements. We successfully expanded our gross margin to 21.4% and nearly halved our operating loss from the same period last year. Perhaps most notably, we achieved our third consecutive quarter of positive adjusted EBITDA at $4 million. This resilient performance is the direct result of the strategic framework we established late last year where our focus remains firmly on accelerating our globalization strategy, investing in our R&D roadmap, and optimizing our lean operating strategy to sustain profitability. R&D costs were down 32% YoY, driven by continued resource prioritization and the internal deployment of AI across our business to drive innovation while reducing structural costs."

Ecarx announced a strategic framework agreement with May Mobility to bring Ecarx's intelligent driving capacity to May Mobility's future autonomous fleet for scaling ride-hail deployment. The partnership has identified a third-party vehicle platform for initial targeted deployment starting next year, with commercialization scale-up in 2028. Under the agreement, Ecarx is expected to develop and deliver up to thousands of autonomy-enabled vehicles, including customized central computing platforms and a full stack sensor suite, for May Mobility's next-generation autonomy system. Ecarx and May Mobility are jointly aiming to reduce the all-in cost of May Mobility's autonomous vehicles, targeting at least 50% cost reduction by 2028. The total value of the project is estimated to be approximately $750M over its entire duration. The actual scope and details of this collaboration, and the actual project value, remain subject to further negotiations and execution of definitive agreements. The successful deployment of these autonomous platforms is also subject to regulatory determination.

Ecarx announced that its board of directors approved a preliminary plan to pursue the potential acquisition of a minority interest and certain intellectual property assets of DreamSmart Technology, a private limited company incorporated in Singapore and an affiliate of the company, and its subsidiaries and consolidated entities. Under this preliminary plan, the total consideration payable by the company for the acquisition may be a combination of cash and securities of the company and/or its subsidiaries. The company may also seek to obtain third party financing, which could include credit facilities, term loans, or other debt financing, to fund a portion of the consideration and associated transaction costs. Any issuance of shares, incurrence of indebtedness, or other financing arrangements would be subject to market conditions, lender and investor interest, applicable regulatory and stock exchange requirements, and assessment and final approval by the company's board of directors. The structure, mix, and amount of consideration are expected to be the subject of further analysis and negotiation and may change materially. The planned acquisition remains in an early, exploratory stage and is subject to uncertainties, including ongoing due diligence, negotiation of definitive documentation, and procurement of financing. There can be no assurance that the company and DreamSmart will enter into any binding agreement or that any transaction will be consummated.