Why Is ECARX Holdings Stock Gaining Today?

ECARX Holdings Inc. ECX saw its shares rise in the premarket session on Thursday after announcing a major partnership with Volkswagen AG VWAGY.

The collaboration will see ECARX provide advanced digital cockpit solutions for vehicles sold under the Volkswagen and Skoda brands globally.

This partnership will involve ECARX supplying a complete digital cockpit solution, which includes both the hardware and software for the ECARX Antora 1000 computing platform and ECARX Cloudpeak software architecture.

The initial phase of this collaboration will focus on launching vehicles in Brazil and India, with plans to expand into additional markets.

The ECARX Antora 1000 is a fourth-generation computing platform powered by a 7nm SE1000 System-on-Chip (SoC) from SiEngine.

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The ECARX Cloudpeak software stack, based on Android Automotive OS and Linux, integrates essential services such as Google Maps, Google Assistant, and Google Play, along with mobile integrations like Android Auto and Apple CarPlay.

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Ziyu Shen, Chairman and CEO of ECARX, expressed excitement about the opportunity to partner with one of the most respected automakers in the world.

“This awarding by the Volkswagen Group is a great opportunity for ECARX to partner with one of the most well-known and respected automakers in the world, and also a significant step forward for ECARX as a global company, partnering with international OEMs to deliver the best in intelligent automotive technology,” Shen added.

According to Benzinga Pro, ECX stock has gained over 19% in the past year.

Price Action: ECX shares are trading higher by 20.8% to $2.91 premarket at last check Thursday.

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