- ORIGINAL NEWS
Geely-backed car tech company takes aim at Nvidia’s growing auto business
- SUMMARY
Ecarx, a Chinese tech company founded by Geely, is making waves in the automotive industry.
They offer software and chip systems for car cockpits and driver assistance.
Despite Nvidia being the current leader in AI-based autonomous driving, Ecarx aims to capture the mass market with simpler and more affordable driver-assist technologies focused on safety.
Ecarx plans to target local Chinese companies due to geopolitical reasons and is also eyeing the overseas market to gain an advantage over competitors like Huawei.
The company recognizes that it has to serve global automakers to become a major player and plans to increase its overseas sales significantly in the coming years.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“Nvidia reported automotive revenue fell 4%, year on year, to $281 million, even as CEO Jensen Huang has called the segment the company’s “next billion-dollar business.”Ecarx co-founder and CEO Ziyu Shen told CNBC in an interview this week that Nvidia enjoys an edge when it comes to AI-based autonomous driving systems.”
Negative
“He expects the overseas market to be a growing business for the company as well and something that offers it an edge over Chinese competitors such as Huawei.In the last few months, Huawei has disclosed several agreements to sell its operating system and other car tech to automakers in China but has yet to announce major overseas deals in the sector.”