The Geely-backed tech startup ECARX has an advantage over bigger rivals such as Nvidia or Qualcomm: It is purely focused on automotive applications, Chairman Ziyu Shen said ahead of the company’s recent market debut.
ECARX went public on the Nasdaq exchange (symbol ECX) in New York City on Dec. 21.
The listing, through a reverse merger with the special purpose acquisition company (SPAC) Cova Acquisition, raised $410 million for the five-year-old ECARX, which was co-founded by Shen and Geely Chairman Eric Li.
"We are very, very focused on the automotive industry only," Shen said in an interview with Automotive News Europe from London, ECARX’s European headquarters. "All our revenue is from automotive. Our main competitors are tech giants, so they are from gaming, cloud computing, high-performance data center or TMT (telecom, media, communications).