ECARX posts 31% YoY revenue surge in Q2 2024

Beijing (Gasgoo)- ECARX, the Geely-associated smart mobility company, on August 8 released its financial results for the second quarter of 2024 (Q2 2024), reporting a revenue of 1.258 billion yuan, marking a 31% year-on-year surge. The company's gross profit margin for the quarter stood at 23%.

For the first half of 2024, ECARX generated a total revenue of 2.186 billion yuan, with R&D investment reaching 573.4 million yuan, which accounted for 26% of total revenue.

As of June 30, 2024, ECARX's technologies and products have been integrated into over 6.9 million vehicles globally, reflecting a 32% year-on-year jump. In Q2 alone, ECARX secured five new project contracts, including a new model project from a renowned European automaker. 

In the same quarter, several new car models featuring ECARX's advanced technologies were launched. On May 17, the Lynk & Co 07 EM-P was released onto the market, equipped with the Antora® 1000 Pro, Flyme Auto, and Skyland™ Pro smart cockpit and driving technology suite, enhancing Lynk & Co's intelligent competitiveness.

On June 25, LEVC introduced its first luxury electric MPV, the L380, which also features the ECARX Antora® 1000 Pro computing platform, enabling a diverse range of smart cockpit functions.

The Antora® 1000 Pro computing platform is based on two SE 1000 7nm automotive-grade SoCs from SiEngine, enabling robust support for the Flyme Auto system’s updates and in-car interaction innovations. This platform powers features like adaptive screens, multi-screen interaction, front passenger desktop, panoramic sound with WANOS, and more.ECARX's Skyland® Pro intelligent driving platform, which integrates two Black Sesame Technologies’ A1000 chips, offers a high level of safety and advanced integrated driving and parking capabilities. This platform has already been mass deployed in the Lynk & Co 08 EM-P.

Furthermore, ECARX's Cloudpeak software platform was successfully integrated into the Volvo EX30, supporting a wide range of intelligent features, including Google Automotive Services (GAS), to meet global market demands.

On June 12, the Lynk & Co Z10 made its global debut in Gothenburg, Sweden, marking the first use of ECARX's Makalu® computing platform. This platform incorporates the AMD Ryzen Embedded V2000A processor and optional Radeon RX 6000 series GPU, bringing desktop-level flagship performance to the smart cockpit. Beyond the Lynk & Co Z10, the smart #5 model will also utilize the ECARX Makalu® computing platform.

Following the integration into models like the Lynk & Co 08 EM-P, Lynk & Co 07 EM-P, and LEVC L380, ECARX's Antora® 1000 Pro computing platform and Flyme Auto solution are set to be deployed in two upcoming Hongqi models from FAW Group.