Han Kun advises ECARX on its de-SPAC combination and listing
December, 2022 - Beijing, Mainland China
On December 20, 2022, ECARX Holdings, Inc. ("ECARX"), a global mobility tech company, completed its business combination with COVA Acquisition Corp., a publicly traded special purpose acquisition company ("SPAC"). The combined company retains the ECARX name and its shares and warrants have commenced trading on NASDAQ under the symbols "ECX" and "ECXWW", respectively, on December 21, 2022.
Han Kun provided legal services to ECARX throughout the de-SPAC combination and listing process. Previously, Han Kun advised ECARX on multiple equity financings.
About ECARX:
Since the founding of ECARX in 2017, the company has made significant progress partnering with global OEMs to reshape the automotive industry as they develop all-new vehicle platforms in the transition toward connected, automated and electrified mobility. As the industry transitions to an all-electric future, ECARX will help to transform cars into computers on wheels–always on, always connected. ECARX's vertically integrated technology stack offers automotive brands a solution that is fully customizable and enables an enhanced onboard experience. The company recorded US$415 million in revenue in 2021 and its technology has been integrated into more than 3.7 million cars serving 12 OEM brands across Asia and Europe. Looking ahead, ECARX expects to continue delivering growth as it expands the number of cars served and increases the revenue per car through new product rollouts and partnerships across the globe.
