Automotive technology provider Ecarx Holdings secures $45.6m strategic investment from Geely Holding through a private placement. Geely to acquire approximately 27.29 million newly issued Class A ordinary shares at $1.67 per share. Deal subject to closing conditions, aims to support global expansion and R&D efforts. Geely expresses confidence in Ecarx’s long-term vision and technological capabilities. Proceeds to accelerate vehicle hardware and software development, expand global deployment. Ecarx to issue new Class A ordinary shares to Geely post-transaction.

Read more at Yahoo Finance: Ecarx to receive $45.6m investment from Geely Holding