ECARX Holdings Inc. Class A Ordinary shares J.P. Morgan Automotive Conference

Thank you very much. We'll kick off the next session with ECARX. It's an absolute pleasure to be here with you today. My name is Jose Asumendi, and I head up the auto team at J.P. Morgan. I'm based in London. ECARX is always a company that I've been following now for the last years. One of the things that always strikes me is how they have been developing the products, the portfolio, the partnerships, broadening the technology expertise, as well as the customer portfolio, which has also been expanding in the last years. I don't want to just go through all those topics now. We will let the gentlemen speak about it, and let's make this also interactive. We've got about 30 minutes, so feel free to ask any questions if anything comes up to your mind, and I'll kick it off.

Ziyu and Peter, thank you very much for your time. Maybe you can do just a quick introduction, role, and how many years you've been at the firm, obviously, and founding the firm, and Peter, same for you, and then we'll go through the Q&A.

Good. Okay. Nice to meet you, and good morning, everyone here. My name is Ziyu Shen. I'm founder and CEO of ECARX. ECARX, I founded in 2017, with Eric Li, owner of Geely, a very famous entrepreneur in China. ECARX is an automotive intelligent technology provider. That's our position in the market. We already spent 10 years in industry, so very quickly start up in China market. We ended up right now scalable in worldwide. In 2022, we successfully listed in Nasdaq exchange, and also I built a headquarter in London. All our executive leadership right now in Europe for five years. Also we got successful in Euro market, with European OEMs in past three years. Last year particularly, we announced two times with Volkswagen Group for a technology product partnership. That's a quickly introduction, myself and my company.

Okay. Peter? Good morning, everyone.

My name's Peter Cirino. I'm the Chief Operating Officer of ECARX. Ziyu invited me to join the firm in 2022, about four or five months before we listed the company. Also based in London, and I've been in the automotive industry and various technology firms for more than 25 years and been helping Ziyu scale the organization, grow with our European customer base, and expand the organization to become a true global technology provider.

Thank you. We look at many technology companies, and it's always, I think, not easy for investors to understand what are the key products you are producing, how does the platform-based strategy work, then we can get into how you differentiate versus peers. But if you think about your core IPs, what are the core products you do? Why is ECARX different to peers?

Yeah. ECARX is providing full stack, the computing system to the car, so including the hardware, silicon, SoC, and middleware, and the software. That's our very unique know-how. SDV is very long-term discussion, so we are providing one-stop solution to accelerate and simplify OEM R&D on SDV. That's our very important and critical task now.

Yeah. Yeah. I would just add to that, Ziyu has built a fantastic organization, I would say, over the last almost 10 years.

For sure, ECARX has been delivering systems into vehicles. We have more than 12 million cars on the road, so we have deep automotive vehicle knowledge, know exactly how to deliver these very complex systems into the automotive environment. In 2018, Ziyu, along with Arm China, founded a company focused on automotive silicon, so we have deep expertise on the silicon side. Then recently we acquired a company that we had a strategic alignment with, that's building Flyme OS. Flyme OS is an operating system and ecosystem in China for both mobile devices and cars. That company has more than 20 years working in that software system.

We brought together in ECARX, this company that has deep technology in silicon, amazing software capability, and then this automotive expertise to be able to deliver these systems in the vehicle.

Interesting. And who are your key customers? We don't have the slides today here, but I think it's important to understand who are your key customers, who were your first customers, how did the business develop a little bit to other customers?

Then really interested in understanding when you go to them, and you showcase your expertise and what you can do, why would they choose you? Why wouldn't they choose someone else?

Okay. Yes. As I, my introduction at the beginning, we started from China. We had very big revenue in China still. Geely, of course, is our very important and big customer, and FAW Group is second. Also we have some programs with Dongfeng, Chery, and most of other Chinese domestic OEMs. Also outside China, we had Volkswagen. We had two times announcement last year, I just mentioned. That's the global program called Global Entry Infotainment Program. We announced that last year. Also, we are developing this platform for their MQB platform, vehicle platform, will support SOP in next quarter 3 and quarter 4. Also, we had a program with Renault and Volvo Car, Polestar. Also, we had a program with Mercedes. We already built a very strong European OEM custom network already.

We still very confidence ECARX is international global tier 1 player in industry.