ECARX Highlights Q4 2024 EBITDA, 2025 Outlook

SHANGHAI, March 13, 2025 -- ECARX Holdings Inc. (Nasdaq: ECX) showcased its financial milestones and strategic initiatives at its Investor Day 2025 in Hong Kong.

ECARX's management highlighted the company's breakeven at the EBITDA level during Q4 2024 and expressed confidence in achieving positive EBITDA for the full year 2025. They also discussed the expanding global customer base.

Financial Milestones:

• EBITDA breakeven during the fourth quarter of 2024.
• Total revenue grew 18% year-over-year to RMB 5.6 billion in 2024.
• Gross margin for 2024 was 21%.
• Total shipments reached a record high of 2 million units in 2024, a 33% year-over-year increase.

Global Expansion:

• Secured a new project with Volkswagen Group to deploy a complete digital cockpit solution in Brazil and India.
• Strengthened partnership with Geely, launching the Galaxy EX5 with ECARX’s Antora® solution.
• Expanded customer base to 18 automakers across 28 global brands.
• Established European headquarters in London and R&D centers in Sweden, Germany, and the US.
• Plans to open an office in Singapore for R&D, IP holding, and supply chain management.

ECARX is committed to investing in R&D and expects to achieve positive EBITDA for the full year 2025 by balancing revenue growth, profitability, and capital investment.