By Connor Hart
Shares of ECARX Holdings hit a 52-week high after the company received an award from Volkswagen Group to provide digital-cockpit solutions for its Volkswagen and Skoda brands.
ECARX stock was up 19%, to $2.87, midday Thursday, marking a slight retreat from its high of $2.98 earlier in the day. Shares have gained 48% in the past year.
The London company, which provides mobility-technology services, said cars launched under the partnership would feature ECARX's Antora 1000 computing platform, as well as its Cloudpeak software architecture.
The Antora 1000 computing platform is ECARX's fourth-generation digital-cockpit computing platform. The Cloudpeak software architecture is based on the Android Automotive operating system, allowing for the integration of services such as Google Maps and Apple CarPlay, the company said.
Exact terms of the partnership weren't disclosed, though ECARX said a significant number of cars would be launched under the deal. Initial rollouts are planned in Brazil and India, and other markets could follow.
Chief Executive Ziyu Shen said the partnership with Volkswagen reflects a significant step forward for ECARX as a global company.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 06, 2025 11:47 ET (16:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.