ECARX went public via a SPAC merger with COVA Acquisition in a $3.8bn deal.

ECARX, a global mobility tech company, went public via a SPAC merger with COVA Acquisition, a special purposes acquisition vehicle, in a $3.8bn deal. "ECARX began as an independent company in 2017 when my co-founder Ziyu Shen and I, shared a vision to drive rapid evolution of the automotive industry by creating the software and hardware needed to transform cars into fully connected computers on wheels. I am immensely proud of the achievements of this company and would like to thank Mr. Shen and the entire ECARX team for their hard work and commitment. I have great confidence ECARX will continue this growth journey and become a leading partner to global brands as they transition to a smart mobility future," Eric Li, ECARX Co-Founder and Shareholder.