ECARX Acquires Flyme Software Business for RMB 1.8 Billion to Strengthen Smart Cockpit Strategy

On June 22, 2024, ECARX Holdings Inc. (Nasdaq: ECX) announced it has signed a definitive agreement to acquire the Flyme software business for RMB 1.8 billion. The transaction was completed through the acquisition of Hubei Qiguang Technology Co., Ltd., a company newly established via a dedicated spin-off from StarRide Meizu Group. The acquired assets include two core products—Flyme Auto, an intelligent cockpit operating system, and the cross-device Flyme OS—as well as associated intellectual property, R&D teams, engineering and technical resources, and mass-production project systems. Following the transaction, ECARX will establish an independent Software Business Unit to operate the Flyme business, ensuring seamless continuity of R&D and uninterrupted service to automotive OEM customers. Additionally, ECARX will inject an additional RMB 200 million in operational funding into Hubei Qiguang Technology to support the Flyme team’s R&D and business expansion. User data will remain with Meizu, which will be responsible for its ongoing operations and maintenance. ECARX stated it will continue supporting the iterative upgrades of the Flyme platform and its full suite of operating systems, with a key focus on developing the AI Agent-enabled version. Within this year, the company plans to roll out large-scale system upgrades for existing Meizu smartphone users and officially launch the new Flyme Auto 3.0 in-vehicle operating system. ECARX will also collaborate with the Flyme team to enhance the integrated smartphone-vehicle user experience, advance the integration of AI capabilities across multiple device scenarios, and expand its intelligent cockpit software licensing business to global automakers. As of the announcement date, vehicles equipped with Flyme Auto—built upon Flyme OS—are projected to exceed 2.26 million units in 2025. For 2026, ECARX and Geely Group have set a joint target of 3 million units, and the company is actively advancing collaborations with several international automotive groups. Previously, in April 2024, ECARX had already begun taking over all core assets and operations related to Flyme OS from StarRide Meizu Group, with relevant intellectual property, ongoing operations, customer contracts, and R&D teams now fully integrated under ECARX’s unified management.