US Stock Market Move | ECARX Holdings, Inc. (ECX.US) rose nearly 23% in pre-market trading, reaching a cooperation agreement with Volkswagen Group.

On Thursday, ECARX Holdings, Inc. (ECX.US) rose nearly 23% in pre-market trading to $2.96 per share. In terms of news, today, ECARX Holdings, Inc. announced a partnership with Volkswagen Group to provide advanced intelligent cockpit solutions for the Volkswagen and Skoda brands worldwide. According to the cooperation agreement, ECARX Holdings, Inc. will provide a complete intelligent cockpit solution, including the Yika Tong Antolla 1000 computing platform and the Yika Tong Yunsan cross-domain software platform. It is reported that the first batch of vehicles from the collaboration will be launched in the emerging markets of Brazil and India, with the potential to expand to more markets in the future. Since the second half of 2022, ECARX has been focusing on the development of intelligent automotive business. Prior to the partnership with Volkswagen, ECARX has served clients such as FAW Hongqi and Geely Ecological Brand in China, including brands like Geely, Lynk & Co, Galaxy, Baojun, Lotus, and smart (a joint venture with Mercedes-Benz). External clients include FAW Hongqi, Changan Mazda, Dongfeng Peugeot Citroen, among others. By the end of the third quarter of 2024, over 7.3 million cars globally have utilized ECARX products.