ECARX (Nasdaq: ECX) ("ECARX"), the global automotive
technology provider, has developed and deployed its ECARX Cloudpeak
digital cockpit software stack to meet the requirements of
automotive manufacturers in the software-defined vehicle era.
ECARX Cloudpeak was developed by ECARX’s global
R&D teams in collaboration with HaleyTek – the joint venture
between ECARX and Volvo Cars, located in Gothenburg, Sweden. Based
on the Android Automotive operating system and Linux, Cloudpeak is
a fully flexible, modular platform created to provide global
automotive OEMs with an intelligent foundation for the
state-of-the-art infotainment and advanced driver assistance
systems (ADAS) of today, and the software-defined vehicles of
tomorrow. One of the first applications for ECARX Cloudpeak is
Volvo EX30 fully electric SUV.
Peter Cirino, Chief Operating Officer of ECARX,
said: “We’re delighted with the incredible success that Volvo EX30
has already achieved, and this award-winning vehicle is the perfect
showcase for Cloudpeak’s capability. Cloudpeak is a key product
line for ECARX and leverages our unique ability to develop
full-stack solutions in-house, and in close collaboration with
other suppliers, technology companies, and automotive OEMs. This
ensures world-class functionality and robustness, enabling us to
support our customers’ ambitions, and, at the same time, our
ambition to build the ultimate vehicle mind in the era of the
software-defined vehicles.”
Volvo EX30 is Volvo’s latest fully electric SUV,
designed to make people’s lives safer, more convenient,
and more enjoyable. The showpiece of its stylish interior is
an infotainment system built around a single 12.3-inch touchscreen,
mounted in the center of the instrument panel, and offers a
contextual user experience to make it simpler and more intuitive
for the driver to interact with. It also offers driver display
views – such as calm view and surround view – designed to give the
driver the information they need and want the most. The system’s 5G
connectivity and over-the-air software updates enable a host of
cloud-enabled features and makes it easy for new functions to be
added.
ECARX Cloudpeak manages the seamless integration
of all the information an EX30’s driver needs, including navigation
instructions from Google Maps, hands-free help from Google
Assistant just by saying, ‘Hey Google’, and apps from Google Play
– in addition to wireless Android Auto and, for the first time
in a Volvo, wireless Apple CarPlay. Cloudpeak is also networked to
the vehicle's comprehensive suite of ADAS features, including
collision avoidance and mitigation, pedestrian and cyclist steering
avoidance, traffic jam assist, lane change assist, park pilot
assist, door opening alert, and 360° camera.
The EX30 application is a true global success
story for Volvo Cars and for ECARX as strong customer demand sees
the vehicle launching in more markets worldwide, and with Volvo
adding production capacity for this key model in its Ghent plant,
Belgium, from 2025.
Software platforms are forecast to experience a
12% CAGR by 2030, reaching a market value of $13 billion1. The main
driver for growth is ADAS1, in which ECARX has proven expertise and
partnerships with some of the world’s leading technology
companies.
¹BCG article: ‘Where Will Software Drive the
Auto Industry Next?’; 06.10.23
Google, Google Play and Google Maps are
trademarks of Google LLC.
About ECARX
ECARX (Nasdaq: ECX) is a global automotive
technology provider with the capabilities to deliver turnkey
solutions for next-generation smart vehicles, from the system on a
chip (SoC), to central computing platforms, and software. As
automakers develop new electric vehicle architectures from the
ground up, ECARX is developing full-stack solutions to enhance the
user experience, while reducing complexity and cost.
Founded in 2017 and listed on the Nasdaq in 2022,
ECARX now has almost 2,000 employees based in 11 major locations in
UK, USA, Sweden, China and Germany. The co-founders are two
automotive entrepreneurs, Chairman and CEO Ziyu Shen, and Eric Li
(Li Shufu), who is also the founder and chairman of Zhejiang Geely
Holding Group — with ownership interests in global brands including
Lotus, Lynk & Co, Polestar, smart, and Volvo Cars. ECARX also
works with other well-known automakers, including FAW and Dongfeng
Peugeot-Citroën. To date, ECARX products can be found in over 5.6
million vehicles worldwide.
Forward-Looking Statements
This release contains statements that are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are
based on management’s beliefs and expectations as well as on
assumptions made by and data currently available to management,
appear in a number of places throughout this document and include
statements regarding, amongst other things, results of operations,
financial condition, liquidity, prospects, growth, strategies and
the industry in which we operate. The use of words “expects”,
“intends”, “anticipates”, “estimates”, “predicts”, “believes”,
“should”, “potential”, “may”, “preliminary”, “forecast”,
“objective”, “plan”, or “target”, and other similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to a number of risks and uncertainties that could
cause actual results to differ materially, including, but not
limited to, statements regarding our intentions, beliefs or current
expectations concerning, among other things, results of operations,
financial condition, liquidity, prospects, growth, strategies,
future market conditions or economic performance and developments
in the capital and credit markets and expected future financial
performance, and the markets in which we operate.
For a discussion of these and other risks and
uncertainties that could cause actual results to differ materially
from those expressed in any forward-looking statement, see ECARX’s
filings with the U.S. Securities and Exchange Commission. ECARX
undertakes no obligation to update or revise and forward-looking
statements to reflect subsequent events or circumstances, except as
required by applicable law.
Investor Contacts:Rene
Duir@ecarxgroup.com
Media
Contacts:media@ecarxgroup.com
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