ECARX Holdings Inc. Completes Public Offering of Class A Ordinary Shares

ECARX Holdings Inc. Announces Completion of Offering of $25,000,000 Class A Ordinary Shares

Hong Kong, March 31, 2023 – ECARX Holdings Inc. (the "Company" or "ECARX"), a leading technology company that specializes in developing innovative automotive and mobility solutions, today announced the completion of its offering of 25,000,000 Class A ordinary shares (the "Offering").

The Offering was priced at $1.00 per share and was completed on March 30, 2023. The net proceeds from the Offering will be used to fund the Company's business development, including the expansion of its product and technology offerings, as well as for general corporate purposes.

"We are pleased to have successfully completed the Offering, which will provide us with the necessary funds to drive our growth strategy and expand our presence in the automotive and mobility industries," said Shengeng Huang, CEO of ECARX. "We believe that our innovative products and technologies will continue to play a key role in shaping the future of the automotive industry, and we are excited to have the financial resources to support our vision."

The Offering was made through a private placement to institutional investors and was managed by Credit Suisse Securities (USA) LLC as the sole bookrunner and representative of the several underwriters. The Offering was approved by the Hong Kong Stock Exchange, Limited.

About ECARX Holdings Inc.

ECARX Holdings Inc. is a technology company that specializes in developing innovative automotive and mobility solutions. The Company's products and technologies are designed to improve the safety, efficiency, and sustainability of the automotive industry. ECARX is headquartered in Hong Kong and has operations in China and other countries. For more information, please visit the Company's website at www.ecarx.com.