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