ECARX (NASDAQ:ECX) said it has entered into a share subscription agreement with Lotus Technology (NASDAQ:LOT) to invest $23 million through a private placement, deepening their strategic collaboration in automotive software and computing platforms.
Under the agreement signed on Dec. 23, 2025, ECARX will subscribe for 16,788,321 ordinary shares of Lotus Technology at $1.37 per share.
The transaction is expected to close within 30 days, subject to customary closing conditions.
The newly issued shares will be subject to a six-month lock-up period, with standard exceptions, the companies said.
ECARX said the investment is intended to strengthen its partnership with Lotus Technology by expanding the deployment of ECARX’s Pikes computing platform and Cloudpeak software stack, integrated with Google Automotive Services, across Lotus vehicles globally.
The move is expected to support ECARX’s international expansion strategy as automakers increasingly adopt software-defined vehicle architectures.