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BEIJING — Companies from Nvidia to Huawei are chasing the market for in-vehicle tech as the electric car industry booms, with Ecarx emerging as a new contender. Since 2017, Chinese car conglomerate Geely's founder and chairman, Eric Li, has been building Ecarx that provides software and chip systems for digital car cockpits and driver-assist. The company on Wednesday reported its fourth-quarter revenue surged 22% from a year earlier to $263 million. Geely's car brands, such as Lynk and Co, made up 70% of that revenue. "We can't compete with them in this area," he said, but noted there's still about 70% or 80% of the car market that doesn't need such advanced tech, and can buy simpler driver-assist tech focused on safety.
Persons: Geely, Eric Li, Jensen Huang, Orin, Li, Ecarx, Ziyu Shen Organizations: BEIJING — Companies, Nvidia, Huawei, CNBC Locations: Berlin, BEIJING
A trader works during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Overnight, Wall Street ended lower as the 30-stock Dow slipped 0.06% and fell for a third consecutive session. Water scarcity threatens chip makersWater shortages could threaten semiconductor firms such as Taiwan Semiconductor Manufacturing Company, S&P Global Ratings said in a report.
Persons: Dow, Sundar Pichai, Pichai, Ziyu Shen, Eli Lilly, Freddie Lait, Lait Organizations: New York Stock Exchange, Wall, CNBC, CSI, Nikkei, Nasdaq, Google, Taiwan Semiconductor Manufacturing, Nvidia Geely, Nvidia, Novo Nordisk, McKesson Locations: New York City, Asia, U.S
Epic Games said it began targeting automakers with its technology about five years ago and its Unreal Engine has already been implemented into some Volvo, Rivian and GM products. Photo: Epic GamesAutomobile technology provider ECARX is partnering with videogame maker Epic Games to bring interactive, 3-D graphics to driver dashboards and other in-car screens. The deal, expected to be announced today, will give ECARX access to Epic’s Unreal Engine, a software development framework used for videogame creation and in filmmaking. Terms of the deal weren’t disclosed.
Zenseact becomes fully owned subsidiary of Volvo Cars
  + stars: | 2022-12-31 | by ( ) www.reuters.com   time to read: +1 min
Dec 31 (Reuters) - Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact. Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the AD software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, Volvo Cars said. Despite Volvo Cars taking ECARX's shares in the software company, the ongoing collaboration discussions between Zenseact and ECARX will continue as planned, Volvo Cars said. Zenseact received a strategic investment in 2021 from ECARX where it asked for 15% shareholding in the software company.
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