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First ECARX Investor Day to Showcase Latest Innovations and Growth Strategy
Executives to Review ECARX's Vision, Strategy, and Execution NEW YORK, May 9, 2023 /PRNewswire/ -- Today, ECARX Holdings, Inc. (Nasdaq: ECX) ("ECARX"), will
About this update from Ecarx Holdings Inc.
[{"type":"text","content":"Executives to Review ECARX's Vision, Strategy, and Execution \nNEW YORK, May 9, 2023 /PRNewswire/ -- Today, ECARX Holdings, Inc. (Nasdaq: ECX) (\"ECARX\"), will host its inaugural investor day in New York City. The event will feature presentations from leadership and provide an updated view of the company's growth strategy, capital allocation plans, and product pipeline, followed by a live Q&A and product demonstrations.\n\"ECARX is driving a new era of industry innovation and growth, operating as an architect of the next-generation automotive technology ecosystem,\" said Ziyu Shen, co-founder, Chairman and CEO of ECARX. \"Our mission is to build a smart mobility platform that seamlessly integrates cutting-edge hardware and software to deliver intelligent and sustainable solutions for customers. As we bring ECARX technology to a truly global audience, we are excited to deliver the future of smart mobility today.\" \nValue Creation Strategy\nAt the event, leadership will give details about its plans for long-term value creation, including:\nPartnering with global OEMs to expand revenue streams and market presence, and ultimately deliver more value to customers,Innovating its product portfolio to increase average revenue per car,Aggressive investments in R&D to accelerate the shift toward a central computing platform, and enable more advanced features and functionality in vehicles, andAccelerating collaborations with cutting-edge global partners to reach further scale.Five Year Outlook \nECARX will announce the following targets for the business through to 2027:\nMeasure\nTarget\nRevenue\n$2,600 - $2,800 million in 2027\nRevenue growth\nCAGR of 40% 2023 through 2027\nGross Margin \n>30% in 2027\nAdjusted EBITDA\nPositive in 2024; $340 - $360 million in 2027; ~13% margin in 2027\nFree Cash Flow\n>$300 million in 2027\nContent per car\n$630 - $650 in 2027\nCars ECARX technology deployed in \n>20 million in 2027\nFireside Q&A with Alwin Bakkenes, Head of Software Engineering at Volvo\nA featured discussion with Volvo's Head of Software Engineering, Alwin Bakkenes, will take place and center on the deepening partnership between ECARX and Volvo, as well as how the two companies are working together to develop next-generation vehicle technologies.\nThe collaboration is helping to further Volvo's innovation agenda by leveraging ECARX's e...