Ecarx Signs Strategic Agreement with May Mobility
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 19 2026
0mins
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.
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About ECX
Ecarx Holdings Inc is a holding company primarily engaged in the development of system-on-chip (SoC) core modules, automotive computing platforms, and software solutions. The Company mainly engages in the development and production of automotive computing platforms, infotainment head units, digital cockpits, vehicle chip-set solutions, a core operating system, and an integrated software stack. The Company’s products include infotainment head units that support around view monitoring integration, augmented reality navigation, and local-end natural language understanding and processing. The Company also offers various computing platforms such as Makalu, Atlas, Pikes, and Galena. The Company provides automotive central computing platforms that consolidate software in fewer electronic control units. The Company's products and solutions are mainly applied in the automotive industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Manufacturing Advantage Integration: TPK will focus on optical design, engineering, and high-volume manufacturing of precision components, ensuring efficient production of LiDAR technology to enhance product competitiveness and meet future market demands.
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See More
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- Improved Adjusted EBITDA: Despite the revenue drop, adjusted EBITDA improved from a loss of $14.5 million last year to a gain of $4.0 million, suggesting progress in cost control and operational efficiency, which may lay the groundwork for future profitability.
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See More
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- Technology Collaboration Initiated: ECARX and TPK have signed a memorandum of cooperation to jointly develop the ORCA LiDAR platform for advanced driver assistance systems (ADAS) and AI-enabled autonomous driving, marking ECARX's entry into the LiDAR sector with mass production expected in 2028 in Thailand.
- Market Potential Exploration: ECARX will leverage its established relationships with vehicle OEMs and robotaxi operators to drive system integration and sensor fusion, aiming for global commercialization and further market share expansion.
- Manufacturing Advantage Integration: TPK will focus on optical design, engineering, and high-volume manufacturing of precision components, ensuring efficient production of LiDAR technology to enhance product competitiveness and meet future market demands.
- Stock Price Surge: Following the announcement of the partnership, ECARX shares rallied over 12%, indicating a positive market reaction to its new business direction, which may provide momentum for future growth.
See More
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- Joint LiDAR Development: ECARX and TPK have signed a memorandum to co-develop the ORCA LiDAR platform, marking ECARX's formal entry into the LiDAR sector, with mass production slated for 2028 at TPK's Thailand facility, enhancing competitiveness in global markets.
- Complementary Expertise: Under the agreement, ECARX will lead system integration and global commercialization, while TPK will provide optical design and efficient manufacturing capabilities, driving performance improvements for next-generation ADAS and AI-enabled autonomous driving systems.
- Broad Market Applications: The new LiDAR platform aims to serve the global market, including vehicle OEMs and robotaxi fleets, supporting both premium passenger cars and scalable autonomous mobility services to meet growing market demands.
- Strategic Significance: ECARX CEO Ziyu Shen stated that this partnership is a key milestone in the company's full-stack automotive intelligence ecosystem, enhancing perception capabilities and competitiveness for global OEMs and robotaxi partners through in-house LiDAR technology development.
See More
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- Cooperation Agreement Signed: ECARX and TPK have signed a binding memorandum for the joint development of LiDAR technology, marking ECARX's formal entry into the LiDAR sector, which is expected to enhance the company's competitiveness in the smart automotive market.
- ORCA LiDAR Platform Development: The parties will co-develop the ORCA LiDAR platform designed to meet stringent global regulatory and functional safety standards, with mass production scheduled to begin in 2028, thereby improving global supply chain delivery efficiency.
- Technological Integration Advantage: The new LiDAR platform will enable seamless hardware-software coordination, featuring low-latency perception and robust performance to support next-generation ADAS and AI-driven autonomous driving systems, catering to global OEMs and robotaxi fleets.
- Full-Stack Intelligent Ecosystem: The CEO of ECARX stated that this partnership is a key milestone in the company's full-stack automotive intelligence ecosystem, enhancing end-to-end perception capabilities by building proprietary LiDAR technology in-house, thus increasing competitiveness for global OEMs and robotaxi partners.
See More
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- Gross Margin Expansion: The company's gross margin expanded to 21.4%, despite pressures in the automotive sector, reflecting the success of its high-value product mix and laying a foundation for future profitability.
- Global Expansion Strategy: ECARX is actively investing in R&D hubs in Germany and operational infrastructure in South America and Singapore, aiming to enhance its competitive position in the global market through these strategic investments.
- High-End Product Shipment Growth: Shipments of high-end solutions increased by approximately 73% year-over-year, indicating a strategic shift that improved revenue quality, despite a 6% decline in overall sales revenue, showcasing the company's potential in high-value markets.
See More
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- Strong Financial Performance: In Q1 2026, ECARX achieved an adjusted EBITDA of $4 million, marking its third consecutive quarter of profitability, demonstrating the company's resilience and improved profitability in a complex macroeconomic environment.
- Gross Margin Improvement: The company reported a gross margin of 21.4%, significantly better than the same period last year, reflecting successful strategies in cost control and operational efficiency, which enhance its competitive position in the market.
- Reduced R&D Costs: R&D expenses decreased by 32% year-over-year, driven by internal AI deployment and resource prioritization, allowing ECARX to lower structural costs while accelerating technological innovation and enhancing product competitiveness.
- Advancing Global Strategy: ECARX aims to generate 50% of its revenue from international markets by 2030, and its recent strategic partnership with May Mobility further solidifies its leadership position in the global autonomous driving technology sector.
See More
ECARX Holdings Q1 Earnings Miss Expectations
- Disappointing Earnings: ECARX Holdings reported a Q1 GAAP EPS of -$0.03, missing expectations by $0.02, indicating ongoing pressure on profitability that may affect investor confidence.
- Significant Revenue Decline: The company’s Q1 revenue of $131.5 million represents a 21.6% year-over-year decline, falling short of market expectations by $73.11 million, reflecting challenges from weak market demand and intensified competition.
- Improved Adjusted EBITDA: Despite the revenue drop, adjusted EBITDA improved from a loss of $14.5 million last year to a gain of $4.0 million, suggesting progress in cost control and operational efficiency, which may lay the groundwork for future profitability.
- 2026 Guidance Reaffirmed: The company reiterated its full-year 2026 revenue guidance of $1.0 to $1.1 billion, below the consensus of $1.13 billion; nevertheless, management expresses confidence in its strategic trajectory based on current backlog and an accelerating commercial pipeline.
See More
