Geely to advance automotive intelligence tech with $50m investment in ECARX

Updated Sep 09, 2021

Same topic: Automotive Industry Updates

The investment amounts to around P2.5-billion.

Geely Automobile Holdings Limited is consistent in making significant moves to advance its automotive intelligence technologies. The latest initiative is its strategic investment agreement with automotive tech company ECARX Technology Co. Ltd.

Geely continues to innovate its products

Under the agreement, the Chinese car brand will acquire approximately 1.51-percent of ECARX, in exchange for an investment of USD 50 million (or around P2.5-billion). According to Geely, its business vision of innovating automotive intelligence technologies aligns with that of the tech firm.

ECARX is a leading automotive intelligence technology company established by Geely founder Li Shufu and Geely Vice-President for Product Management Shen Ziyu in 2016. Its offices provide connected services on a global basis, with locations in the cities of Hangzhou, Beijing, Shanghai, Wuhan, and Dalian in China, as well as in Sweden.

Both Geely and ECARX aim to develop a range of intelligent automotive technologies, including cockpit operating systems, autonomous driving solutions, and advanced in-car features.

Geely signed on for a $50m investment in ECARX

However, this is not the first time Geely has ventured into the automotive intelligence market. In fact, it recently launched its open-source EV platform called the Sustainable Experience Architecture (SEA). The SEA offers advanced capabilities such as a 700-km range, 120-km range charge in less than five minutes, and a zero to 100 rating of under three seconds.

It is equipped with its own OS (operating system), so models engineered under the SEA can keep their systems updated and optimized. One can say that Geely is likely more than prepared for the industry’s shift to the electric vehicle (EV) era that will start in a number of countries by 2030.

Another investment Geely is pursuing is the development of methanol-powered vehicles. When asked about this, Geely Chairman Li Shufu said that methanol vehicle technologies can provide a cleaner alternative to gasoline counterparts. Although he does not anticipate much success as far as development in this area is concerned, Li adds that it won’t stop the company from finding ways to innovate its vehicles.

Expect more advanced features from the brand in the upcoming years

With all that being said, Geely might actually reach its ambitious goal of becoming the best-selling Chinese automaker by 2025. It continues to establish strategic plans and investments to adapt to the ever-changing automotive industry.

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Rex Sanchez

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Rex Sanchez grew up in Saudi Arabia where he saw and got into the automotive scene. He started his career for an aviation company in the said region, writing about turbines and rotors which are later distributed for educational purposes. And now, he joined Philkotse.com as a staff writer. Currently, he is the youngest on the team and is more than ready to grow in the field.

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