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Announced

Completed

Baidu led a $194m Series A round in ECARX.

Financials

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Transaction Value£149m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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electric vehicle technology

Minority

Single Bidder

Acquisition

IT Services: Other

China

Completed

Auto Technology

Private

Friendly

Domestic

Synopsis

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Baidu, a Chinese multinational technology company specializing in Internet-related services and products and artificial intelligence, led a $194m Series A round in ECARX, a vehicle intelligence technology provider. The investment was followed by Susquehanna International Group. The round A funding will be mainly used for the R&D of autonomous driving chips, high precision maps, and other autonomous driving technologies. ECARX plans to found an R&D center in Europe to serve the local market.

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