ECARX (ECX) 6-K27 Sep 24Current report (foreign)Financial data

Company Profile

Cover

Cover	6 Months Ended
Cover	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Document Period End Date	Jun. 30, 2024
Entity File Number	001-41576
Registrant Name	ECARX Holdings Inc.
Entity Address, Address Line One	5/F, Building 1, Zhongteng Building
Entity Address, Address Line Two	2121 Longteng Avenue
Entity Address, City or Town	Xuhui District, Shanghai
Entity Address, Postal Zip Code	200232
Entity Address, Country	CN
Central Index Key	0001861974
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Current assets
Cash	¥ 787,639	$ 108,383	¥ 571,760
Restricted cash	159	22	27,126
Short-term investments	137,936	18,981	137,876
Notes receivable	171,926	23,658	54,634
Inventories	177,151	24,377	160,781
Amounts due from related parties	91,398	12,577	74,122
Prepayments and other current assets	406,704	55,962	443,500
Total current assets	2,946,929	405,510	3,328,321
Non-current assets
Long-term investments	220,453	30,335	300,987
Property and equipment, net	137,259	18,887	120,785
Intangible assets, net	294,034	40,460	179,341
Operating lease right-of-use assets	126,811	17,450	125,205
Total non-current assets	1,086,701	149,534	978,903
Total assets	4,033,630	555,044	4,307,224
Current liabilities
Short-term borrowings	1,600,000	220,167	1,200,000
Notes payable	0	0	9,959
Amounts due to related parties	375,696	51,697	35,664
Operating lease liabilities, current	37,877	5,212	35,123
Accrued expenses and other current liabilities	424,964	58,477	614,540
Income tax payable	4,067	560	15,794
Total current liabilities	4,551,904	626,363	4,252,228
Non-current liabilities
Convertible notes payable	467,617	64,346	455,701
Operating lease liabilities, non-current	114,095	15,700	107,605
Warrant liabilities, non-current	5,501	757	5,141
Provisions	97,550	13,423	90,871
Deferred tax liabilities	32,668	4,495	0
Total non-current liabilities	891,447	122,666	886,624
Total liabilities	5,443,351	749,029	5,138,852
Commitments and contingencies
SHAREHOLDERS’ DEFICIT
Additional paid-in capital	6,156,746	847,196	6,096,675
Accumulated deficit	(7,241,232)	(996,427)	(6,670,686)
Accumulated other comprehensive loss	(358,063)	(49,271)	(344,578)
Total deficit attributable to ordinary shareholders	(1,442,538)	(198,501)	(918,579)
Non-controlling interests	32,817	4,516	86,951
Total shareholders’ deficit	(1,409,721)	(193,985)	(831,628)
Total liabilities and shareholders’ deficit	4,033,630	555,044	4,307,224
Class A Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	10	1	9
Class B Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	1	0	1
Nonrelated Party
Current assets
Accounts receivable	240,043	33,031	285,819
Non-current assets
Other non-current assets	33,774	4,647	28,236
Current liabilities
Accounts payable	1,501,440	206,605	1,820,680
Contract liabilities, current	1,517	209	621
Non-current liabilities
Contract liabilities, non-current	6	1	2
Other Liabilities, Noncurrent	48,792	6,714	48,792
Related Party
Current assets
Accounts receivable	933,973	128,519	1,572,703
Amounts due from related parties	91,398		74,122
Non-current assets
Other non-current assets	274,370	37,755	224,349
Current liabilities
Accounts payable	403,424	55,513	312,830
Amounts due to related parties	375,696		35,664
Contract liabilities, current	202,919	27,923	207,017
Non-current liabilities
Contract liabilities, non-current	78,793	10,842	133,993
Other Liabilities, Noncurrent	¥ 46,425	$ 6,388	¥ 44,519

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Class A Ordinary Shares
Ordinary shares, par value per share (in USD per share)	$ 0.000005	$ 0.000005
Ordinary shares, shares authorized (in shares)	8,000,000,000	8,000,000,000
Ordinary shares, shares issued (in shares)	288,989,049	288,989,049
Ordinary shares, shares outstanding (in shares)	288,989,049	288,989,049
Class B Ordinary Shares
Ordinary shares, par value per share (in USD per share)	$ 0.000005	$ 0.000005
Ordinary shares, shares authorized (in shares)	1,000,000,000	1,000,000,000
Ordinary shares, shares issued (in shares)	48,960,916	48,960,916
Ordinary shares, shares outstanding (in shares)	48,960,916	48,960,916

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥) ¥ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 CNY (¥) ¥ / shares shares
Revenues
Total revenues	¥ 2,195,317,000	$ 302,086	¥ 1,736,601,000
Total cost of revenues	(1,699,542,000)	(233,865)	(1,223,102,000)
Gross profit	495,775,000	68,221	513,499,000
Research and development expenses (including related parties amounts of RMB5,610 and RMB10,323 for the periods ended June 30, 2023 and 2024, respectively)	(573,367,000)	(78,898)	(481,600,000)
Selling, general and administrative expenses (including related parties amounts of RMB2,131 and RMB8,632 for the periods ended June 30, 2023 and 2024, respectively)	(408,290,000)	(56,183)	(414,769,000)
Other income - related parties	0	0	7,055,000
Others, net	236,000	32	(688,000)
Total operating expenses	(981,421,000)	(135,049)	(890,002,000)
Loss from operation	(485,646,000)	(66,828)	(376,503,000)
Interest income (including related parties amounts of RMB6,771 and RMB5,899 for the periods ended June 30, 2023 and 2024, respectively)	11,206,000	1,542	17,885,000
Interest expense (including related parties amounts of RMB6,116 and RMB7,706 for the periods ended June 30, 2023 and 2024, respectively)	(45,495,000)	(6,260)	(38,228,000)
Loss from equity method investments	(67,605,000)	(9,303)	(25,414,000)
Other non-operating income (expenses), net	(22,979,000)	(3,161)	16,719,000
Loss before income taxes	(610,519,000)	(84,010)	(405,541,000)
Income tax (expense) benefit	198,000	27	(326,000)
Net loss	610,321,000	83,983	405,867,000
Net loss attributable to non-controlling interests	39,775,000	5,473	30,741,000
Net loss attributable to Ecarx Holdings Inc. ordinary shareholders	¥ (570,546,000)	$ (78,510)	¥ (375,126,000)
Loss per ordinary share
Basic (in CNY per share) \| (per share)	¥ (1.69)	$ (0.23)	¥ (1.11)
Diluted (in CNY per share) \| (per share)	¥ (1.69)	$ (0.23)	¥ (1.11)
Weighted average number of ordinary shares used in computing loss per ordinary share
Basic (in shares) \| shares	337,935,301	337,935,301	337,395,390
Diluted (in shares) \| shares	337,935,301	337,935,301	337,395,390
Other comprehensive income (loss):
Foreign currency translation adjustments, net of nil income taxes	¥ (13,485,000)	$ (1,856)	¥ 48,975,000
Comprehensive loss	(623,806,000)	(85,839)	(356,892,000)
Comprehensive loss attributable to non-controlling interests	39,775,000	5,473	30,741,000
Comprehensive loss attributable to ordinary shareholders	(584,031,000)	(80,366)	(326,151,000)
Related Party
Revenues
Total revenues	1,924,865,000		1,439,678,000
Research and development expenses (including related parties amounts of RMB5,610 and RMB10,323 for the periods ended June 30, 2023 and 2024, respectively)	(10,323,000)		(5,610,000)
Selling, general and administrative expenses (including related parties amounts of RMB2,131 and RMB8,632 for the periods ended June 30, 2023 and 2024, respectively)	(8,632,000)		(2,131,000)
Interest income (including related parties amounts of RMB6,771 and RMB5,899 for the periods ended June 30, 2023 and 2024, respectively)	5,899,000		6,771,000
Interest expense (including related parties amounts of RMB6,116 and RMB7,706 for the periods ended June 30, 2023 and 2024, respectively)	(7,706,000)		(6,116,000)
Sales of goods revenues
Revenues
Total revenues	1,700,670,000	234,020	1,264,263,000
Total cost of revenues	(1,433,028,000)	(197,191)	(1,000,190,000)
Sales of goods revenues \| Related Party
Revenues
Total revenues	1,470,170,000		1,018,256,000
Total cost of revenues	(245,787,000)		(143,725,000)
Software license revenues
Revenues
Total revenues	131,832,000	18,141	215,641,000
Total cost of revenues	(44,126,000)	(6,072)	(37,210,000)
Software license revenues \| Related Party
Revenues
Total revenues	92,923,000		164,995,000
Total cost of revenues	(24,744,000)		(11,061,000)
Service
Revenues
Total revenues	362,815,000	49,925	256,697,000
Total cost of revenues	(222,388,000)	$ (30,602)	(185,702,000)
Service \| Related Party
Revenues
Total revenues	361,772,000		256,427,000
Total cost of revenues	¥ (14,178,000)		¥ (31,938,000)

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Total revenues	¥ 2,195,317,000	$ 302,086	¥ 1,736,601,000
Total cost of revenues	(1,699,542,000)	(233,865)	(1,223,102,000)
Research and development expenses (including related parties amounts of RMB5,610 and RMB10,323 for the periods ended June 30, 2023 and 2024, respectively)	(573,367,000)	(78,898)	(481,600,000)
Selling, general and administrative expenses	(408,290,000)	(56,183)	(414,769,000)
Investment income, interest	11,206,000	1,542	17,885,000
Interest expense	45,495,000	6,260	38,228,000
Related Party
Total revenues	1,924,865,000		1,439,678,000
Research and development expenses (including related parties amounts of RMB5,610 and RMB10,323 for the periods ended June 30, 2023 and 2024, respectively)	(10,323,000)		(5,610,000)
Selling, general and administrative expenses	(8,632,000)		(2,131,000)
Investment income, interest	5,899,000		6,771,000
Interest expense	7,706,000		6,116,000
Sales of goods revenues
Total revenues	1,700,670,000	234,020	1,264,263,000
Total cost of revenues	(1,433,028,000)	(197,191)	(1,000,190,000)
Sales of goods revenues \| Related Party
Total revenues	1,470,170,000		1,018,256,000
Total cost of revenues	(245,787,000)		(143,725,000)
Software license revenues
Total revenues	131,832,000	18,141	215,641,000
Total cost of revenues	(44,126,000)	(6,072)	(37,210,000)
Software license revenues \| Related Party
Total revenues	92,923,000		164,995,000
Total cost of revenues	(24,744,000)		(11,061,000)
Service
Total revenues	362,815,000	49,925	256,697,000
Total cost of revenues	(222,388,000)	$ (30,602)	(185,702,000)
Service \| Related Party
Total revenues	361,772,000		256,427,000
Total cost of revenues	¥ (14,178,000)		¥ (31,938,000)

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)	Class A Ordinary Shares shares	Class B Ordinary Shares shares	Total deficit attributable to ordinary shareholders of the Company CNY (¥)	Ordinary Shares Class A Ordinary Shares CNY (¥) shares	Ordinary Shares Class B Ordinary Shares CNY (¥) shares	Additional paid-in capital CNY (¥)	Accumulated deficit CNY (¥)	Accumulated other comprehensive loss CNY (¥)	Non-controlling interests CNY (¥)
Beginning balance (in shares) at Dec. 31, 2022 \| shares						288,434,474	48,960,916
Beginning balance at Dec. 31, 2022	¥ (34,456)				¥ (196,396)	¥ 9	¥ 1	¥ 5,919,660	¥ (5,730,180)	¥ (385,886)	¥ 161,940
CHANGES IN SHAREHOLDERS' DEFICIT
Net loss	(405,867)				(375,126)				(375,126)		(30,741)
Share-based compensation (Note 15)	52,226				52,226			52,226
Combination of a subsidiary under common control (Note 1(b))	2,990				2,990			2,990
Foreign currency translation adjustments, net of nil income taxes	48,975				48,975					48,975
Ending balance (in shares) at Jun. 30, 2023 \| shares						288,434,474	48,960,916
Ending balance at Jun. 30, 2023	(336,132)				(467,331)	¥ 9	¥ 1	5,974,876	(6,105,306)	(336,911)	131,199
Beginning balance (in shares) at Dec. 31, 2023 \| shares			288,989,049	48,960,916		288,989,049,000	48,960,916,000
Beginning balance at Dec. 31, 2023	(831,628)				(918,579)	¥ 9	¥ 1	6,096,675	(6,670,686)	(344,578)	86,951
CHANGES IN SHAREHOLDERS' DEFICIT
Net loss	(610,321)	$ (83,983)			(570,546)				(570,546)		(39,775)
Share-based compensation (Note 15)	70,925				70,925			70,925
Combination of a subsidiary under common control (Note 1(b))	(10,854)				(10,854)			(10,854)
Asset acquisition of Suzhou Photon-Matrix (Note 1(c))	(14,359)										(14,359)
Issuance of Class A ordinary shares under 2022 Share Incentive Plan (in shares) \| shares						5,179,811,000
Issuance of Class A ordinary shares under 2022 Share Incentive Plan	1				1	¥ 1
Foreign currency translation adjustments, net of nil income taxes	(13,485)	(1,856)			(13,485)					(13,485)
Ending balance (in shares) at Jun. 30, 2024 \| shares			288,989,049	48,960,916		294,168,860,000	48,960,916,000
Ending balance at Jun. 30, 2024	¥ (1,409,721)	$ (193,985)			¥ (1,442,538)	¥ 10	¥ 1	¥ 6,156,746	¥ (7,241,232)	¥ (358,063)	¥ 32,817

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Operating activities:
Net cash used in operating activities	¥ (416,811)	$ (57,355)	¥ (960,437)
Investing activities:
Purchase of equipment and intangible assets	(56,236)	(7,738)	(48,004)
Cash paid for acquisition of equity investments	(53,900)	(7,417)	0
Cash paid for asset acquisition of Suzhou Photon-Matrix, net of cash acquired	(45,185)	(6,218)	0
Cash paid for acquisition of short-term investments	(294,000)	(40,456)	0
Proceeds from redemption of short-term investments	299,400	41,199	0
Loans and advances to related parties	(10,800)	(1,486)	(12,000)
Proceeds from disposal of equipment	675	93	0
Cash collection of loans and advances to related parties	17,700	2,436	8,500
Proceeds from sale of Zenseact	0	0	792,063
Net cash provided by (used in) investing activities	(142,346)	(19,587)	740,559
Financing activities:
Proceeds from short-term borrowings	580,000	79,811	480,000
Repayment for short-term borrowings	(180,000)	(24,769)	(480,000)
Payment for issuance costs of convertible notes	0	0	(3,396)
Borrowings from related parties	449,000	61,784	300,000
Repayment of borrowings from related parties	(100,000)	(13,760)	0
Cash paid for costs of the Merger	0	0	(64,632)
Net cash provided by financing activities	749,000	103,066	231,972
Effect of foreign currency exchange rate changes on cash and restricted cash	(931)	(128)	14,259
Net increase in cash and restricted cash	188,912	25,996	26,353
Cash and restricted cash at the beginning of the period	598,886	82,409	901,429
Cash and restricted cash at the end of the period	787,798	108,405	927,782
Supplemental information:
Income tax paid	12,474	1,716	0
Interest paid	¥ 64,220	$ 8,837	¥ 30,063

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
Summary of significant accounting policies	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies (a) Basis of presentation The accompanying unaudited condensed consolidated financial statements of ECARX Holdings Inc. (“the Company”) and its consolidated subsidiaries (the “Group”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by rules and regulations of the United States Securities and Exchange Commission. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Group as of and for the year ended December 31, 2023. The accompanying unaudited condensed consolidated financial statements were prepared assuming the Group will continue as a going concern. The Group generated a net loss of RMB610,321 and net cash outflows from operations of RMB416,811 for the six months ended June 30, 2024. As of June 30, 2024, the Group’s consolidated current liabilities exceeded current assets in the amount of RMB1,604,975. The Company has evaluated plans to continue as a going concern which include, but are not limited to, (i) reducing discretionary capital and operating expenses (ii) obtaining additional facilities from banks and renewal of existing bank borrowings (iii) obtaining extended financial support from controlling shareholder and related parties (iv) accelerating pace of collections of amounts due from related and third parties to optimize operational efficiency and (v) exploring opportunities for further equity financing. Notwithstanding this, feasibility of some of these plans is contingent upon factors outside of the control of the Company and, as such, the Company concluded that substantial doubt about its ability to continue as a going concern has not been alleviated as of the reporting date. In the opinion of the management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the financial position as of June 30, 2024, the results of operations and cash flows for the six months ended June 30, 2023 and 2024, have been made. The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and reported revenues and expenses during the periods presented in the unaudited condensed consolidated financial statements and accompanying notes. Significant accounting estimates include, but are not limited to, service period of connectivity services; expected credit losses for accounts receivable, other non-current assets and amounts due from related parties; realizability of inventories; accrual for warranty obligations; useful lives and recoverability of property, equipment and intangible assets and right-of-use assets; recoverability of long-term investments; valuation allowance of deferred tax assets; fair values of share-based compensation awards, fair values of intangible assets acquired in an asset acquisition, fair value of convertible notes payables, warrant liabilities, incremental borrowing rates of the Group’s leases. Changes in facts and circumstances may result in these estimates to be revised. Actual results could differ from those estimates, and as such, differences may be material to the unaudited condensed consolidated financial statements. (b) A combination between entities under common control Acquisition of controlling interest in HF Tech Europe AB (“HF EU”) On June 30, 2024, Ecarx Sweden AB. (“Ecarx SE”) acquired all issued and outstanding shares of HF Tech Europe AB (“HF EU”), an entity under common control, at a purchase consideration of SEK16,111 (equivalent to RMB10,854), which is subject to working capital adjustments and will be settled in December 2024. The unaudited condensed consolidated financial statements of the Company have been presented by combining assets, liabilities, revenues, expenses and equity of Ecarx and HF EU using the pooling-of-interests method as if the transaction occurred at the establishment date of HF EU on January 30, 2023. All intercompany transactions and balances between the combining entities have been eliminated. The following table summarizes the results of operations and net assets of HF EU consolidated in these unaudited condensed consolidated financial statements. The amounts are after eliminating transactions between the Group and HF EU. As of December 31, As of June 30, 2023 2024 RMB RMB Assets Current assets 39,580 51,551 Total assets 39,580 51,551 Liabilities Current liabilities 36,749 62,743 Total liabilities 36,749 62,743 Six Months Ended June 30, 2023 2024 RMB RMB Revenue 19,164 26,170 Cost of revenues (13,200) (40,514) Gross profit/(loss) 5,964 (14,344) Profit / (loss) from operations 5,470 (17,692) Profit / (loss) before income taxes 5,461 (17,395) Net profit / (loss) 5,461 (17,395) (c) Asset acquisition of Suzhou Photon-Matrix Optoelectronics Technology Co., Ltd (“Suzhou Photon Matrix” ) On January 31, 2024, the Group entered into share purchase agreements with existing third party shareholders of Suzhou Photon- Matrix, pursuant to which the Group acquired 13.10% additional equity interest in Suzhou Photon-Matrix for a total cash consideration of RMB46,306. Prior to the transaction, the Group held 49.17% equity interest in Suzhou Photon-Matrix and accounted for the interest as an equity method investment. As a result of the transactions, the Group’s equity interest increased to 62.27%, and the Group obtained control in Suzhou Photon- Matrix. The transaction was accounted for as an asset acquisition rather than a business combination as what the Group acquired does not include a substantive process that together with input to significantly contribute to the ability to create output. In determining the cost basis to be allocated to assets acquired, the Group measured its previously held equity interest and noncontrolling interest at their carrying values. The cost of assets acquired was allocated to the individual assets acquired or liabilities assumed based on their relative fair values. (d) Risks and concentration Concentration of credit risk Financial instruments that potentially expose the Group to concentrations of credit risk consist principally of cash, restricted cash, short-term investments, accounts receivables, notes receivable, amounts due from related parties and non-current assets. The Group’s policy requires cash and restricted cash to be placed with high quality financial institutions. The Group regularly evaluates the credit standing of the counterparties or financial institutions. The Group conducts credit evaluations on its customers prior to delivery of goods or services. The assessment of customer creditworthiness is primarily based on historical collection records, research of publicly available information and customer on site visits by senior management. Based on this analysis, the Group determines what credit terms, if any, to offer to each customer individually. If the assessment indicates a likelihood of collection risk, the Group will not deliver the services or sell the products to the customer or require the customer to pay cash to secure payment or to make significant down payments. Concentration of customers and suppliers The Group currently has a concentrated customer base with a limited number of key customers, particularly Geely Group and its subsidiaries. The following table summarizes customers with greater than 10.0% of the accounts receivable - related parties, net: As of December 31, As of June 30, 2023 2024 Geely Group and its subsidiaries 86.4 % 77.5 % The following table summarizes customers with greater than 10.0% of the accounts receivable - third parties, net: As of December 31, As of June 30, 2023 2024 Customer A, a third party 42.0 % 46.5 % Customer B, a third party Less than 10.0% 31.3 % Customer C, a third party 28.6 % Less than 10.0% Customer D, a third party 15.1 % Less than 10.0% Customers contributing more than 10.0% of total revenues were as follows: Six Months Ended June 30, 2023 2024 Geely Group and its subsidiaries 72.9 % 79.4 % The revenue above from Geely Group and its subsidiaries excluded the sales of SoC core modules or software licenses by the Group to its third-party customers that were integrated into infotainment and cockpit products and sold by such third-party customers to Geely Group and its subsidiaries. The following table summarizes suppliers with greater than 10.0% of the accounts payable: As of December 31, As of June 30, 2023 2024 Supplier A, a third party 15.7 % 18.3 % Supplier B, a third party 12.5 % 16.5 % Supplier C, a third party 22.8 % 12.3 % Suppliers contributing more than 10.0% of total purchases were as follows: Six Months Ended June 30, 2023 2024 Supplier A, a third party 23.1 % 25.7 % Supplier C, a third party Less than 10.0% 21.2 % Supplier B, a third party 13.2 % Less than 10.0% (e) Fair value measurements Financial assets and liabilities of the Group primarily consist of cash, restricted cash, short-term investments, accounts receivable, amounts due from related parties, notes receivable, equity securities, short-term borrowings, accounts payable, notes payable, amounts due to related parties, warrant liabilities, convertible notes, and other payables included in accrued expenses and other current liabilities. The Group measures below assets and liabilities at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2023 and June 30, 2024 as below: Level 1 – Equity securities and public warrant liabilities using observable inputs in active markets; Level 3 – Private warrant liabilities using unobservable inputs. As of December 31, 2023 and June 30, 2024, the carrying values of other financial instruments approximate their fair values due to the short-term maturity of these instruments or their interest rates are comparable to the prevailing interest rates in the market. (f) Convenience translation The United States dollar (“US$”) amounts disclosed in the accompanying unaudited condensed consolidated financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$1.00=RMB7.2672 , the certified noon buying rate set forth in the H.10 statistical release of the Federal Reserve Board on June 28, 2024. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on June 30, 2024, or at any other rate. (g) Prior period reclassification The Group has reclassified certain prior period amounts as shown below to make the presentation consistent with current period. Six Months Ended June 30, 2023 Before reclassification After reclassification RMB RMB Selling and marketing expenses (36,931) (36,931) — General and administrative expenses (377,838) (377,838) — Selling, general and administrative expenses — — (414,769) Change in fair value of an equity security 27,722 27,722 — Change in fair value of warrant liabilities 4,781 4,781 — Change in fair value of derivative financial assets 16,189 16,189 — Government grants 2,695 2,695 — Foreign currency exchange losses, net (34,668) (34,668) — Other non-operating income — 16,719

Cash and restricted cash

Cash and restricted cash	6 Months Ended
Cash and restricted cash	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash and restricted cash	Cash and restricted cash A reconciliation of cash and restricted cash in the unaudited condensed consolidated balance sheets to the amounts in the unaudited condensed consolidated statements of cash flows is as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Cash at banks 571,760 787,639 Restricted cash 27,126 159 Cash and restricted cash shown in the unaudited condensed consolidated statements of cash flows 598,886 787,798 Cash and restricted cash are deposited in financial institutions at the locations noted below: As of December 31, As of June 30, 2023 2024 RMB RMB Financial institutions in the mainland of the PRC – Denominated in RMB 528,022 732,805 – Denominated in US$ 14,542 16,433 – Denominated in Great Britain Pound (“GBP”) 81 89 – Denominated in Euro — 109 – Denominated in Hong Kong dollars (“HKD”) — 11 Total cash balances held in the mainland of the PRC 542,645 749,447 Financial institutions in Hong Kong – Denominated in Hong Kong dollars (“HKD”) 13 601 – Denominated in RMB 27 27 Total cash balances held in Hong Kong 40 628 Financial institutions in Sweden – Denominated in Swedish Krona (“SEK”) 39,584 34,742 – Denominated in US$ 204 207 Total cash balances held in Sweden 39,788 34,949 Financial institutions in the United Kingdom – Denominated in Great Britain Pounds (“GBP”) 12,356 562 Total cash balances held in the United Kingdom 12,356 562 Financial institutions in the United States – Denominated in US$ 3,867 2,079 Total cash balances held in the United States 3,867 2,079 Financial institutions in Germany – Denominated in Euro 190 133 Total cash balances held in Germany 190 133 Total cash balances held at financial institutions in RMB 598,886 787,798 As of December 31, 2023, the Group’s restricted cash of RMB3,513 were pledged for notes payable, and RMB23,613 restricted due to disputes on unpaid amounts to a supplier. As of June 30, 2024, the Group had restricted cash of RMB159 pledged for notes payable.

Accounts receivable, net

Accounts receivable, net	6 Months Ended
Accounts receivable, net	Jun. 30, 2024
Credit Loss [Abstract]
Accounts receivable, net	Accounts receivable, net Accounts receivable, net consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Accounts receivable, third parties 288,507 243,589 Less: Allowance for doubtful accounts, third parties (2,688) (3,546) Accounts receivable, third parties, net 285,819 240,043 Accounts receivable, related parties 1,583,920 957,248 Less: Allowance for doubtful accounts, related parties (11,217) (23,275) Accounts receivable, related parties, net 1,572,703 933,973 The movement of the allowance for doubtful accounts receivable is as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Balance at the beginning of the period 6,887 13,905 Additions 9,951 15,239 Reversal (2,426) (10) Write-off (507) (2,313) Balance at the end of the period 13,905 26,821 Factoring agreement In March 2024, the Group entered into an accounts receivable factoring agreement with a finance company of Geely Group with a minimum interest rate of 6.0% per annum. The one-year factoring agreement provides the Group to have access to up to RMB149,000 on a revolving basis, measured by the aggregate amount advanced for the unpaid balance of certain trade accounts receivable from specified customers from time to time. The Group accounts for transfers of accounts receivable in accordance with ASC 860, Transfers and Servicing (“ASC 860”). Pursuant to ASC 860, the Group does not derecognize customers’ accounts receivable when receiving advance payment from the finance company due to the recourse obligations retained by the Group. As of June 30, 2024, factoring accounts receivable of RMB186,250 were not derecognized and were restricted as security for the advanced amounts of RMB149,000 received by the Group, which were recorded as amounts due to related parties on the unaudited condensed consolidated balance sheets. The factoring proceeds from the finance company was considered financing activities and reported as “Borrowings from related parties” on the unaudited condensed consolidated statements of cash flows.

Notes receivable

Notes receivable	6 Months Ended
Notes receivable	Jun. 30, 2024
Receivables [Abstract]
Notes receivable	Notes receivable The Group collects notes receivable from its customers for sales of automotive computing platform, SoC Core Modules and other products. Notes receivable as of December 31, 2023 and June 30, 2024 were bank acceptance notes, among which RMB6,603 and RMB16, respectively, are pledged as collateral to secure the Group’s liability for notes payable issued by China Industrial Bank. The notes payables are used for settlement between the Group and its suppliers on the purchase of raw materials and other inventories.

Inventories

Inventories	6 Months Ended
Inventories	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Raw materials 90,882 106,667 Work-in-process 11,003 15,089 Finished goods 58,896 55,395 Total 160,781 177,151 The Group recorded inventory write-down of RMB9,535 and RMB1,817 for the six months ended June 30, 2023 and 2024, respectively.

Prepayments and other current a

Prepayments and other current assets	6 Months Ended
Prepayments and other current assets	Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Prepayments and other current assets	Prepayments and other current assets Prepayments and other current assets consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Prepayments to suppliers 302,421 271,769 Contract cost assets 104,309 61,179 Others 36,770 73,756 Prepayments and other current assets 443,500 406,704 Nil provision was made for prepayments and other current assets as of December 31, 2023 and June 30, 2024.

Long-term investments

Long-term investments	6 Months Ended
Long-term investments	Jun. 30, 2024
Long-Term Investments [Abstract]
Long-term investments	Long-term investments As of December 31, As of June 30, 2023 2024 RMB RMB Equity method investments 252,407 198,468 Equity securities measured at fair value 48,580 21,985 Total long-term investments 300,987 220,453 Management evaluated whether there was other-than-temporary impairment based on the facts for the long-term investments, including recent financing activities, projected and historical financial performance of investees. Nil and RMB6,446 impairment loss were recognized for the six months ended June 30, 2023 and 2024, respectively. Equity method investments As disclosed in Note 1(c), the Group acquired 13.10% additional equity interest in Suzhou Photon-Matrix from existing shareholders and thereafter the Group obtained control of Suzhou Photon-Matrix and derecognized the equity method investment with carrying amount of RMB34,829. In May 2024, Hubei Dongjun Automotive Electronic Technology Co., Ltd. ("Hubei Dongjun”) distributed on a pro rata basis its equity interest in Shenzhen U Chance Technology Co., Ltd. (“U Chance”) to each of its equity holders, namely the Group and Hubei Dongjun Industrial and Commercial Co., Ltd. based on their respective shareholding. As a result, U Chance was spun-off from Hubei Dongjun and the Group directly held 49% equity interest in U Chance. The Group continues to account for its investment in U Chance as equity method investment at its carrying amount. Equity securities measured at fair value The fair value o f 2,030,374 shares of Luminar Technologies, Inc. decreased to US$ 3,025 (equivalent to RMB21,985) a s of June 30, 2024. The fair value change of US$3,773 (equivalent to RMB27,421) w as recorded as a loss in the unaudited condensed consolidated statements of comprehensive loss.

Property and equipment, net

Property and equipment, net	6 Months Ended
Property and equipment, net	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net Property and equipment, net consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Machinery and electronic equipment 197,777 219,956 Transportation vehicles 5,654 4,990 Office and other equipment 20,614 21,399 Leasehold improvements 44,747 57,317 Construction in progress 7,938 15,621 Property and equipment 276,730 319,283 Less: accumulated depreciation (148,653) (175,130) Less: impairment (7,292) (6,894) Property and equipment, net 120,785 137,259 Depreciation on property and equipment was allocated as follows: Six Months Ended June 30, 2023 2024 RMB RMB Cost of revenues 375 539 Selling, general and administrative expenses 15,034 14,509 Research and development expenses 11,675 12,226 Total depreciation 27,084 27,274 No impairment loss was recorded for the six months ended June 30, 2023 and 2024.

Intangible assets, net

Intangible assets, net	6 Months Ended
Intangible assets, net	Jun. 30, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, net	Intangible assets, net Intangible assets, net consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Software 121,950 143,461 Software license rights 143,725 143,725 Trademark 139 139 Patents 2,655 141,224 Intangible assets 268,469 428,549 Less: accumulated amortization (86,183) (130,945) Less: impairment (2,945) (3,570) Intangible assets, net 179,341 294,034 The Group acquired patents of RMB138,569 in the asset acquisition (refer to Note 1(c)). The acquired patents are amortized over a period of ten years. Amortization of intangible assets was allocated as follows: Six Months Ended June 30, 2023 2024 RMB RMB Cost of revenues — 23,954 Selling, general and administrative expenses 4,902 4,605 Research and development expenses 7,105 16,184 Total amortization 12,007 44,743 In the six months ended June 30, 2024, an impairment loss of RMB625 was recognized for obsolete software, which was included in selling, general and administrative expenses. No impairment loss was recorded in the six months ended June 30, 2023.

Short-term borrowings

Short-term borrowings	6 Months Ended
Short-term borrowings	Jun. 30, 2024
Short-Term Debt [Abstract]
Short-term borrowings	Short-term borrowings Short-term borrowings consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Unsecured bank loans 1,200,000 1,600,000 As of December 31, 2023, the Group’s short-term borrowings bear interest rates of 3.8%, 3.9% and 4.0% per annum. As of June 30, 2024 , the Group’s short-term borrowings bear interest rates of 4.0% and 3.9% per annum. As of December 31, 2023 and June 30, 2024 , the Group had a total line of credit in the amount of RMB 1,200,000 and RMB 1,700,000 , of which the unused portion was nil and RMB 100,000 , respectively. Short-term borrowings o f RMB180,000 and nil a

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2024
Lessee Disclosure [Abstract]
Leases	Leases The components of lease cost were as follows: Six Months Ended June 30, 2023 2024 RMB RMB Operating lease costs 22,854 25,289 Short-term lease costs 1,660 1,529 Total 24,514 26,818 The lease cost was allocated as follows: Six Months Ended June 30, 2023 2024 RMB RMB Selling, general and administrative expenses 12,968 14,838 Research and development expenses 11,546 11,980 Total 24,514 26,818 The operating lease right-of-use assets and the amortization were as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Operating lease right-of-use assets 172,643 159,117 Less: accumulated amortization (47,438) (32,306) Total 125,205 126,811 As of December 31, As of June 30, 2023 2024 Weighted average remaining lease term (years): Operating leases 6.14 5.98 Weighted average discount rate: Operating leases 8.65 % 8.39 % Supplemental cash flow information related to operating leases was as follows: Six Months Ended June 30, 2023 2024 RMB RMB Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 6,484 17,567 Right-of-use assets obtained in exchange for lease obligations Operating leases 31,832 1,756

Accrued expenses and other curr

Accrued expenses and other current liabilities and Provision	6 Months Ended
	Jun. 30, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Accrued expenses and other current liabilities and Provision	Accrued expenses and other current liabilities and Provision Accrued expenses and other current liabilities consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Salaries and benefits payables 257,207 110,899 Taxes payable 101,487 80,591 Product warranties 41,924 42,553 Accrued costs of the Merger 54,984 54,984 Other payables and accrued charges* 158,938 135,937 Accrued expenses and other current liabilities 614,540 424,964 ___________________________ * Other payables and accrued charges primarily include accrual for research and development expenses. Product warranty The following table provides a reconciliation of changes in the product warranties: As of December 31, As of June 30, 2023 2024 RMB RMB Balance at the beginning of the year/period 92,148 132,795 Additions 85,161 25,679 Settlements (44,514) (18,371) Balance at the end of the year/period 132,795 140,103 Including: Current portion of warranty included in “Accrued expenses and other current liabilities” 41,924 42,553 Noncurrent portion of warranty included in “Provision” 90,871 97,550

Convertible notes payable

Convertible notes payable	6 Months Ended
Convertible notes payable	Jun. 30, 2024
Debt Disclosure [Abstract]
Convertible notes payable	Convertible notes payable The following is a summary of the Company’s convertible notes payable and its fair value as of December 31, 2023 and June 30, 2024. Principal amount Unamortized debt issuance costs Net Carrying amount Fair Value Amount Leveling RMB RMB RMB 5% Investor Notes due on November 8, 2025 As of December 31, 2023 461,494 (5,793) 455,701 396,884 Level 3 As of June 30, 2024 472,368 (4,751) 467,617 415,702 Level 3

Warrant liabilities

Warrant liabilities	6 Months Ended
Warrant liabilities	Jun. 30, 2024
Warrants and Rights Note Disclosure [Abstract]
Warrant liabilities	Warrant liabilities ECARX Warrants in connection with the Merger ECARX Public Warrants are publicly traded on Nasdaq, the liability is measured at fair value using observable inputs and categorized in Level 1 of the fair value hierarchy, while ECARX Private Warrant liability is measured at fair value using unobservable inputs and categorized in Level 3 of the fair value hierarchy. The Binomial Option Pricing Model with the following key assumptions is used for estimating the fair value of ECARX Private Warrants. As of December 31, As of June 30, 2023 2024 Risk-free rate of return (%) 3.93 % 4.47 % Volatility 29.50 % 43.49 % Expected dividend yield 0.0 % 0.0 % Expected term 4.0 years 3.5 years Fair value of the underlying ordinary shares US$3.16 (equivalent to RMB22.44) US$2.06 (equivalent to RMB14.97) The risk-free rate of return was based on the yield of US Treasury Notes for the expected remaining life of the warrant liabilities. The Company estimates the volatility of its common stock using a binomial lattice model based on the price of public warrant as of the valuation date. Expected dividend yield is zero as the Company does not anticipate any dividend payments in the foreseeable future. Expected term to exercise the warrant liabilities is up to December 2027. The fair value of the Company’s ordinary shares was obtained from the listed trading price of ECX. The table below reflects the movement of ECARX Warrants for the six months ended June 30, 2024: January 1, 2024 RMB Addition Loss due to change in fair value Foreign exchange Settlement June Liabilities ECARX Public Warrants 3,195 — — 75 — 3,270 ECARX Private Warrants 1,946 — 236 49 — 2,231 Total 5,141 — 236 124 — 5,501

Share based compensation

Share based compensation	6 Months Ended
Share based compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share based compensation	Share based compensation (a) Restricted Share Unit (“RSU”) 2022 Share Incentive Plan In February 2024, the Company granted an aggregated number of 117,250 RSUs to employee s , which were immediately fully vested upon the grants and these RSUs had been fully exercised as of February 29, 2024. The following table summarizes activities of the Company's RSUs for the six months ended June 30, 2024: Number of Weighted Weighted Weighted Aggregate US$ US$ Outstanding at January 1, 2024 15,033,854 0.69 4.91 Granted (new RSUs) 117,250 — 3.51 Exercised (4,039,195) 0.03 — Outstanding at June 30, 2024 11,111,909 0.92 4.31 Vested and expected to vest as of June 30, 2024 11,111,909 0.92 4.31 8.81 38,054 Exercisable as of June 30, 2024 9,185,844 0.92 4.26 8.93 31,602 Total intrinsic value of RSUs exercised was RMB22,449 for the six months ended June 30, 2024. The fair value of the RSUs granted in 2024 under 2022 Share Incentive Plan is estimated using the closing price as of the grant dates of listed trading price of the Company. (b) Options 2022 Share Incentive Plan In April 2024, the Company granted an aggregate number of 4,960,570 share options to employees. The share options vest under one of the following two approaches: • fully vested on the date of grant. • 25% of the grants vest every twelve-month service period since the service commencement of the employees. The following table summarizes activities of the options for the six months ended June 30, 2024: Number of Weighted Weighted Weighted Aggregate US$ US$ Outstanding at January 1, 2024 11,260,718 9.62 3.11 Granted 4,960,570 0.50 1.21 Forfeited (195,628) 7.36 2.86 Outstanding at June 30, 2024 16,025,660 6.82 2.52 Vested and expected to vest as of June 30, 2024 16,025,660 6.82 2.52 8.02 — Exercisable as of June 30, 2024 10,884,902 8.66 2.76 7.49 — The fair value of the options granted for the six months ended June 30, 2023 and 2024 are estimated using the binomial model with the following assumptions used: Six Months Ended June 30, 2023 2024 Risk-free rate of return 3.79 % 4.69 % Volatility 44.95 % 47.25 % Expected dividend yield 0.0 % 0.0 % Fair value of underlying ordinary share US$8.02 US$1.64 Expected terms 10 years 10 years The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the option awards. The risk-free interest rate was separately estimated based on the yield to maturity of U.S. Treasury bonds for a term consistent with the expected term of the options in effect at the valuation date. Expected dividend yield is zero as the Group does not anticipate any dividend payments in the foreseeable future. Expected term is the contract life of the option awards. Compensation expenses recognized for RSUs and options for the six months ended June 30, 2023 and 2024 were allocated as follows. Six Months Ended June 30, 2023 2024 RMB RMB Selling, general and administrative expenses 32,565 55,066 Research and development expenses 19,661 15,859 Total 52,226 70,925 As of June 30, 2024, US$9,290 (equivalent to RMB66,196) of the total unrecognized compensation expense related to RSUs and options is expected to be recognized over a weighted-average period of 1.2 years. The unrecognized compensation cost may be adjusted for actual forfeitures occurring in the future.

Revenue information

Revenue information	6 Months Ended
Revenue information	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue information	Revenue information Revenues are disaggregated as follow: Major products/services lines: Six Months Ended June 30, 2023 2024 RMB RMB Sales of goods revenues 1,264,263 1,700,670 Automotive computing platform 1,053,901 1,481,702 SoC Core Modules 200,255 217,376 Automotive merchandise and other products 10,107 1,592 Software license revenues 215,641 131,832 Service revenues 256,697 362,815 Automotive computing Platform – Design and development service 119,291 223,313 Connectivity service 99,508 78,162 Other services 37,898 61,340 Total revenues 1,736,601 2,195,317 Timing of revenue recognition: Six Months Ended June 30, 2023 2024 RMB RMB Point in time 1,637,093 2,117,155 Over time 99,508 78,162 Total revenues 1,736,601 2,195,317 For the six months ended June 30, 2023 and 2024, 97.2% and 97.6% of the Group’s revenues were generated in the PRC. Contract liabilities Contract liabilities consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Current liabilities - third parties 621 1,517 Current liabilities - related parties 207,017 202,919 Non-current liabilities - third parties 2 6 Non-current liabilities - related parties 133,993 78,793 Contract liabilities, current and non-current 341,633 283,235

Other non-operating income (exp

Other non-operating income (expenses), net	6 Months Ended
Other non-operating income (expenses), net	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other non-operating income (expenses), net	Other non-operating income (expenses), net Six Months Ended June 30, 2023 2024 RMB RMB Change in fair value of an equity security (Note 7) 27,722 (27,421) Change in fair value of warrant liabilities (Note 14) 4,781 (236) Change in fair value of derivative financial assets 16,189 — Government grants 2,695 9,172 Foreign currency exchange losses, net (34,668) (4,494) Total other non-operating income (expenses), net 16,719 (22,979)

Income taxes

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The statutory income tax rate for the Group is 25% for the six months ended June 30, 2023 and 2024. The effective income tax rate for the six months ended June 30, 2023 and 2024 differs from the PRC statutory income tax rate of 25%, primarily due to the recognition of full valuation allowance for deferred income tax assets of loss-making entities.

Loss per share

Loss per share	6 Months Ended
Loss per share	Jun. 30, 2024
Earnings Per Share [Abstract]
Loss per share	Loss per share Basic and diluted net loss per share for the six months ended June 30, 2023 and 2024 have been calculated as follows: Six Months Ended June 30 2023 2024 RMB RMB Numerator: Net loss attributable to ECARX Holdings Inc. (375,126) (570,546) Numerator for basic and diluted net loss per share calculation (375,126) (570,546) Denominator: Weighted average number of ordinary shares – basic and diluted 337,395,390 337,935,301 Denominator for basic and diluted net loss per share calculation 337,395,390 337,935,301 Net loss per share attributable to ordinary shareholders — Basic and diluted (1.11) (1.69) The potential dilutive instruments that have not been included in the calculation of diluted loss per share as their inclusion would be anti-dilutive are as follows: Six Months Ended June 30 2023 2024 Warrants 23,871,971 23,871,971 Share options 11,389,486 16,025,660 Convertible Notes 5,652,174 5,652,174

Commitments and contingencies

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Purchase commitments As of June 30, 2024, the Group has future purchase commitment mainly related to the purchase of research and development services. Total purchase obligations contracted but not yet reflected in the unaudited condensed consolidated financial statements as of June 30, 2024 were as follows: Total Less than 1-2 Years 2-3 Years 3-5 Years Over 5 RMB RMB RMB RMB RMB RMB Purchase commitments 139,729 129,729 6,667 3,333 — — Capital commitments Total capital expenditures contracted but not yet reflected in the unaudited condensed consolidated financial statements as of June 30, 2024 were as follows: Total Less than 1-2 Years 2-3 Years 3-5 Years Over 5 RMB RMB RMB RMB RMB RMB Capital commitments 44,405 44,405 — — — — Investment commitments As of June 30, 2024, the Group’s investment commitments related to acquisition of remaining 51% equity interest in Hubei Dongjun. Total investment commitment contracted but not yet reflected in the unaudited condensed consolidated financial statements as of June 30, 2024 were as follows: Total Less than 1-2 Years 2-3 Years 3-5 Years Over 5 RMB RMB RMB RMB RMB RMB Investment commitments 23,500 23,500 — — — —

Related party balances and tran

Related party balances and transactions	6 Months Ended
Related party balances and transactions	Jun. 30, 2024
Related Party Transactions [Abstract]
Related party balances and transactions	Related party balances and transactions (a) Related Parties Names of the major related parties Nature of relationship Zhejiang Geely Holding Group (“Geely Group”) and its subsidiaries Entity controlled by the controlling shareholder of the Company Proton Holdings Berhad and its subsidiaries Entity that the controlling shareholder of the Company has significant influence Anhui Xinzhi Technology Co., Ltd. Entity controlled by the controlling shareholder of the Company Zhejiang Huanfu Technology Co., Ltd., ("Zhejiang Huanfu", formerly known as Zhejiang Yikatong Technology Co., Ltd.) Entity controlled by the controlling shareholder of the Company Xi'an Liansheng Intelligent Technology Co., Ltd. Entity controlled by the controlling shareholder of the Company Hubei Xingji Meizu Group Co., Ltd. (formerly known as Hubei Yuanshidai Technology Co., Ltd.) Entity controlled by the controlling shareholder of the Company Wuhan Xingji Meizu Technology Co., Ltd and its subsidiaries Entity controlled by the controlling shareholder of the Company Hubei ECARX Technology Co., Ltd. (“Hubei ECARX”) Entity controlled by the controlling shareholder of the Company Arteus Group Limited Entity controlled by the controlling shareholder of the Company DreamSmart Technology Pte. Ltd. (“DreamSmart”) and its subsidiaries Entity controlled by the controlling shareholder of the Company Apollo Intelligent Connectivity (Beijing) Technology Co., Ltd. Entity that one director of the Company has significant influence SiEngine Technology Co., Ltd. (“SiEngine”) Entity which is under significant influence of the Company Hubei Dongjun Automotive Electronic Technology Co., Ltd. Entity which is under significant influence of the Company Shenzhen U Chance Technology Co., Ltd. Entity which is under significant influence of the Company HaleyTek AB Entity which is under significant influence of the Company (b) Significant transactions with related parties, except transactions disclosed elsewhere in these unaudited condensed consolidated financial statements: Six Months Ended June 30, 2023 2024 RMB RMB Revenues(i): Sales of goods revenues 1,018,256 1,470,170 Automotive computing platform 1,013,860 1,467,211 SoC Core Modules 140 1,611 Automotive merchandise and other products 4,256 1,348 Software license revenues 164,995 92,923 Service revenues 256,427 361,772 Automotive computing platform – Design and development service 119,291 223,204 Connectivity service 99,254 78,103 Other services 37,882 60,465 Total 1,439,678 1,924,865 Six Months Ended June 30, 2023 2024 RMB RMB Purchase of products and services (ii) 216,079 376,504 Rental of office space, and administrative services (ii) 2,400 2,168 Other income (vi) 7,055 — Interest income on loans due from related parties (iii)(v) 6,771 5,899 Interest expense on borrowings due to related parties (iv) 6,116 7,706 Loans to related parties (iii) 12,000 9,800 Repayment received of loans to related parties (iii) 8,500 17,700 Repayment of borrowings from related parties (iv) — 100,000 Borrowings from related parties (iv) 300,000 449,000 (c) Balances with related parties: As of December 31, As of June 30, 2023 2024 RMB RMB Accounts receivable – related parties, net (i) 1,572,703 933,973 Amounts due from related parties (ii)(iii) 74,122 91,398 Other non-current assets - related parties (v) 224,349 274,370 Accounts payable – related parties (ii) (vii) 312,830 403,424 Amounts due to related parties (ii)(iv) 35,664 375,696 Other non-current liabilities– related parties (vii) 44,519 46,425 ___________________________ (i) The Group sold automotive computing platform products, merchandise and other products, software licenses and provided related technology development services, connectivity service, and other consulting services to a number of related parties. Accounts receivable, net due from related parties arising from sales of products and provision of services were RMB1,572,703 and RMB933,973 as of December 31, 2023 and June 30, 2024 , respectively. (ii) The Group purchased raw materials, technology development services and other consulting services from a number of related parties, of which, RMB24,014 and RMB75,008 of purchase of raw materials were recorded as inventories as of June 30, 2023 and 2024, respectively, RMB186,724 and RMB284,709 were recorded in cost of revenues for the six months ended June 30, 2023 and 2024 , respectively, RMB5,341 and RMB16,787 were recorded in operating expenses for the six months ended June 30, 2023 and 2024, respectively. T he Group also rented office space from related parties, pursuant to which, the Group recorded rental expenses of RMB2,400 and RMB2,168 in operating expenses for the six months ended June 30, 2023 and 2024, respectively. Accounts payable to related parties includes payables arising from purchase of raw materials and services of RMB 312,830 and RMB403,424 , amount due from related parties includes prepayments arising from purchase of raw materials and services of RMB 8,420 and RMB 79,884 as of December 31, 2023 and June 30, 2024 , respectively. Amounts due to related parties includes payables arising from purchase of technical services and logistics services of RMB 9,701 and RMB20,978 as of December 31, 2023 and June 30, 2024 , respectively. (iii) The Group provided loans of RMB 12,000 and RMB9,800 to related parties, and received repayments of RMB 8,500 and RMB 17,700 from related parties for the six months ended June 30, 2023 and 2024 respectively. Interest incomes on loans due from related parties were RMB 1,567 and RMB 374 for the six months ended June 30, 2023 and 2024, respectively. As of December 31, 2023 and June 30, 2024 , loans and interest receivables due from related parties were RMB 65,702 and RMB11,514 . (iv) In January 2023, ECARX (Hubei) Tech entered into an unsecured loan agreement with Geely Group in an amount of RMB 300,000 with an interest rate of 4.1% per annum, which was fully repaid in December 2023. The term of the loan was subsequently extended to June 30, 2025, and the interest rate was reduced to 3.9% per annum during the extended period. In January 2024, ECARX (Hubei) Tech obtained renewed RMB 300,000 loan from Geely Group. In June 2024, RMB 100,000 out of the loan was repaid, the remaining RMB 200,000 loan is repayable on June 30, 2025. In March 2024, the Group entered into an accounts receivable factoring agreement with a finance company of Geely Group with a minimum interest rate of 6.0% per annum (Note 3). The Group cumulated received RMB 149,000 from the finance company during current period. Interest expense on borrowings from related parties were RMB 6,116 and RMB 7,706 for the six months ended June 30, 2023 and 2024 , respectively. The borrowings and the interest payable on borrowings from related parties was included in the amounts due to related parties and was RMB 25,963 and RMB 354,718 as of December 31, 2023 and June 30, 2024 , respectively. (v) As of December 31, 2023 and June 30, 2024, the balance of other non-current assets due from related parties included the amounts due from its former VIE, Hubei ECARX in the amount of RMB224,349 and RMB274,370, which represented the net present value of a loan provided by the Group to Hubei ECARX with the principal of RMB252,287 and an effective annual interest rate of 5.0%. Interest incomes on loans due from related parties were RMB5,204 and RMB5,525 for the six months ended June 30, 2023 and 2024, respectively. (vi) Other income from related parties represents the amounts due from Arteus for recharges of expenses including those in relation to management service, sharing of office space, consultancy and other expenses paid by the Group on behalf of Arteus Group Limited. In June 2023, ECARX signed an assignment of rights agreement with Arteus and DreamSmart. The amounts due from Arteus were assigned to DreamSmart, all of which were settled as of December 31, 2023. (vii)

Subsequent events

Subsequent events	6 Months Ended
Subsequent events	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent events	Subsequent events On July 15, 2024, the Group acquired remaining 51% equity interest in Hubei Dongjun for a cash consideration of RMB23,500. As a result of the acquisition, Hubei Dongjun became the wholly owned subsidiary of the Group. The transaction was accounted for as a business combination, using the acquisition method. The allocation of the purchase price is subject to completion of the determination of fair values of the assets and liabilities acquired assisted by the third party valuer. On August 1, 2024, the Group sold its minority stake of 40% in HaleyTek AB ("HaleyTek"), a joint venture with Volvo Car Corporation ("Volvo Cars") created to develop software for Android-powered infotainment systems, to Volvo Cars for a cash consideration of SEK210,000 (equivalent to RMB140,238).

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
Summary of significant accounting policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements of ECARX Holdings Inc. (“the Company”) and its consolidated subsidiaries (the “Group”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by rules and regulations of the United States Securities and Exchange Commission. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Group as of and for the year ended December 31, 2023. The accompanying unaudited condensed consolidated financial statements were prepared assuming the Group will continue as a going concern. The Group generated a net loss of RMB610,321 and net cash outflows from operations of RMB416,811 for the six months ended June 30, 2024. As of June 30, 2024, the Group’s consolidated current liabilities exceeded current assets in the amount of RMB1,604,975. The Company has evaluated plans to continue as a going concern which include, but are not limited to, (i) reducing discretionary capital and operating expenses (ii) obtaining additional facilities from banks and renewal of existing bank borrowings (iii) obtaining extended financial support from controlling shareholder and related parties (iv) accelerating pace of collections of amounts due from related and third parties to optimize operational efficiency and (v) exploring opportunities for further equity financing. Notwithstanding this, feasibility of some of these plans is contingent upon factors outside of the control of the Company and, as such, the Company concluded that substantial doubt about its ability to continue as a going concern has not been alleviated as of the reporting date. In the opinion of the management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the financial position as of June 30, 2024, the results of operations and cash flows for the six months ended June 30, 2023 and 2024, have been made. The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and reported revenues and expenses during the periods presented in the unaudited condensed consolidated financial statements and accompanying notes. Significant accounting estimates include, but are not limited to, service period of connectivity services; expected credit losses for accounts receivable, other non-current assets and amounts due from related parties; realizability of inventories; accrual for warranty obligations; useful lives and recoverability of property, equipment and intangible assets and right-of-use assets; recoverability of long-term investments; valuation allowance of deferred tax assets; fair values of share-based compensation awards, fair values of intangible assets acquired in an asset acquisition, fair value of convertible notes payables, warrant liabilities, incremental borrowing rates of the Group’s leases. Changes in facts and circumstances may result in these estimates to be revised. Actual results could differ from those estimates, and as such, differences may be material to the unaudited condensed consolidated financial statements.
Asset acquisition of Suzhou Photon-Matrix Optoelectronics Technology Co., Ltd (“Suzhou Photon Matrix”)	Asset acquisition of Suzhou Photon-Matrix Optoelectronics Technology Co., Ltd (“Suzhou Photon Matrix” )
Risks and concentration	Risks and concentration Concentration of credit risk Financial instruments that potentially expose the Group to concentrations of credit risk consist principally of cash, restricted cash, short-term investments, accounts receivables, notes receivable, amounts due from related parties and non-current assets. The Group’s policy requires cash and restricted cash to be placed with high quality financial institutions. The Group regularly evaluates the credit standing of the counterparties or financial institutions. The Group conducts credit evaluations on its customers prior to delivery of goods or services. The assessment of customer creditworthiness is primarily based on historical collection records, research of publicly available information and customer on site visits by senior management. Based on this analysis, the Group determines what credit terms, if any, to offer to each customer individually. If the assessment indicates a likelihood of collection risk, the Group will not deliver the services or sell the products to the customer or require the customer to pay cash to secure payment or to make significant down payments.
Fair value measurements	Fair value measurements Financial assets and liabilities of the Group primarily consist of cash, restricted cash, short-term investments, accounts receivable, amounts due from related parties, notes receivable, equity securities, short-term borrowings, accounts payable, notes payable, amounts due to related parties, warrant liabilities, convertible notes, and other payables included in accrued expenses and other current liabilities. The Group measures below assets and liabilities at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2023 and June 30, 2024 as below: Level 1 – Equity securities and public warrant liabilities using observable inputs in active markets; Level 3 – Private warrant liabilities using unobservable inputs.
Convenience translation	Convenience translationThe United States dollar (“US$”) amounts disclosed in the accompanying unaudited condensed consolidated financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$1.00=RMB7.2672 , the certified noon buying rate set forth in the H.10 statistical release of the Federal Reserve Board on June 28, 2024. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on June 30, 2024, or at any other rate.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	6 Months Ended
Summary of significant accounting policies (Tables)	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of subsidiaries	The following table summarizes the results of operations and net assets of HF EU consolidated in these unaudited condensed consolidated financial statements. The amounts are after eliminating transactions between the Group and HF EU. As of December 31, As of June 30, 2023 2024 RMB RMB Assets Current assets 39,580 51,551 Total assets 39,580 51,551 Liabilities Current liabilities 36,749 62,743 Total liabilities 36,749 62,743 Six Months Ended June 30, 2023 2024 RMB RMB Revenue 19,164 26,170 Cost of revenues (13,200) (40,514) Gross profit/(loss) 5,964 (14,344) Profit / (loss) from operations 5,470 (17,692) Profit / (loss) before income taxes 5,461 (17,395) Net profit / (loss) 5,461 (17,395)
Schedules of concentration of customers and suppliers	The following table summarizes customers with greater than 10.0% of the accounts receivable - related parties, net: As of December 31, As of June 30, 2023 2024 Geely Group and its subsidiaries 86.4 % 77.5 % The following table summarizes customers with greater than 10.0% of the accounts receivable - third parties, net: As of December 31, As of June 30, 2023 2024 Customer A, a third party 42.0 % 46.5 % Customer B, a third party Less than 10.0% 31.3 % Customer C, a third party 28.6 % Less than 10.0% Customer D, a third party 15.1 % Less than 10.0% Customers contributing more than 10.0% of total revenues were as follows: Six Months Ended June 30, 2023 2024 Geely Group and its subsidiaries 72.9 % 79.4 % The revenue above from Geely Group and its subsidiaries excluded the sales of SoC core modules or software licenses by the Group to its third-party customers that were integrated into infotainment and cockpit products and sold by such third-party customers to Geely Group and its subsidiaries. The following table summarizes suppliers with greater than 10.0% of the accounts payable: As of December 31, As of June 30, 2023 2024 Supplier A, a third party 15.7 % 18.3 % Supplier B, a third party 12.5 % 16.5 % Supplier C, a third party 22.8 % 12.3 % Suppliers contributing more than 10.0% of total purchases were as follows: Six Months Ended June 30, 2023 2024 Supplier A, a third party 23.1 % 25.7 % Supplier C, a third party Less than 10.0% 21.2 % Supplier B, a third party 13.2 % Less than 10.0%
Schedule of prior period reclassifications	The Group has reclassified certain prior period amounts as shown below to make the presentation consistent with current period. Six Months Ended June 30, 2023 Before reclassification After reclassification RMB RMB Selling and marketing expenses (36,931) (36,931) — General and administrative expenses (377,838) (377,838) — Selling, general and administrative expenses — — (414,769) Change in fair value of an equity security 27,722 27,722 — Change in fair value of warrant liabilities 4,781 4,781 — Change in fair value of derivative financial assets 16,189 16,189 — Government grants 2,695 2,695 — Foreign currency exchange losses, net (34,668) (34,668) — Other non-operating income — 16,719

Cash and restricted cash (Table

Cash and restricted cash (Tables)	6 Months Ended
Cash and restricted cash (Tables)	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Schedule of reconciliation of cash and restricted cash	A reconciliation of cash and restricted cash in the unaudited condensed consolidated balance sheets to the amounts in the unaudited condensed consolidated statements of cash flows is as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Cash at banks 571,760 787,639 Restricted cash 27,126 159 Cash and restricted cash shown in the unaudited condensed consolidated statements of cash flows 598,886 787,798 Cash and restricted cash are deposited in financial institutions at the locations noted below: As of December 31, As of June 30, 2023 2024 RMB RMB Financial institutions in the mainland of the PRC – Denominated in RMB 528,022 732,805 – Denominated in US$ 14,542 16,433 – Denominated in Great Britain Pound (“GBP”) 81 89 – Denominated in Euro — 109 – Denominated in Hong Kong dollars (“HKD”) — 11 Total cash balances held in the mainland of the PRC 542,645 749,447 Financial institutions in Hong Kong – Denominated in Hong Kong dollars (“HKD”) 13 601 – Denominated in RMB 27 27 Total cash balances held in Hong Kong 40 628 Financial institutions in Sweden – Denominated in Swedish Krona (“SEK”) 39,584 34,742 – Denominated in US$ 204 207 Total cash balances held in Sweden 39,788 34,949 Financial institutions in the United Kingdom – Denominated in Great Britain Pounds (“GBP”) 12,356 562 Total cash balances held in the United Kingdom 12,356 562 Financial institutions in the United States – Denominated in US$ 3,867 2,079 Total cash balances held in the United States 3,867 2,079 Financial institutions in Germany – Denominated in Euro 190 133 Total cash balances held in Germany 190 133 Total cash balances held at financial institutions in RMB 598,886 787,798
Restrictions on cash and cash equivalents	A reconciliation of cash and restricted cash in the unaudited condensed consolidated balance sheets to the amounts in the unaudited condensed consolidated statements of cash flows is as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Cash at banks 571,760 787,639 Restricted cash 27,126 159 Cash and restricted cash shown in the unaudited condensed consolidated statements of cash flows 598,886 787,798 Cash and restricted cash are deposited in financial institutions at the locations noted below: As of December 31, As of June 30, 2023 2024 RMB RMB Financial institutions in the mainland of the PRC – Denominated in RMB 528,022 732,805 – Denominated in US$ 14,542 16,433 – Denominated in Great Britain Pound (“GBP”) 81 89 – Denominated in Euro — 109 – Denominated in Hong Kong dollars (“HKD”) — 11 Total cash balances held in the mainland of the PRC 542,645 749,447 Financial institutions in Hong Kong – Denominated in Hong Kong dollars (“HKD”) 13 601 – Denominated in RMB 27 27 Total cash balances held in Hong Kong 40 628 Financial institutions in Sweden – Denominated in Swedish Krona (“SEK”) 39,584 34,742 – Denominated in US$ 204 207 Total cash balances held in Sweden 39,788 34,949 Financial institutions in the United Kingdom – Denominated in Great Britain Pounds (“GBP”) 12,356 562 Total cash balances held in the United Kingdom 12,356 562 Financial institutions in the United States – Denominated in US$ 3,867 2,079 Total cash balances held in the United States 3,867 2,079 Financial institutions in Germany – Denominated in Euro 190 133 Total cash balances held in Germany 190 133 Total cash balances held at financial institutions in RMB 598,886 787,798

Accounts receivable, net (Table

Accounts receivable, net (Tables)	6 Months Ended
Accounts receivable, net (Tables)	Jun. 30, 2024
Credit Loss [Abstract]
Schedule of accounts receivable, net	Accounts receivable, net consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Accounts receivable, third parties 288,507 243,589 Less: Allowance for doubtful accounts, third parties (2,688) (3,546) Accounts receivable, third parties, net 285,819 240,043 Accounts receivable, related parties 1,583,920 957,248 Less: Allowance for doubtful accounts, related parties (11,217) (23,275) Accounts receivable, related parties, net 1,572,703 933,973
Schedule of movement of the allowance for doubtful accounts of accounts receivables due from related parties	The movement of the allowance for doubtful accounts receivable is as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Balance at the beginning of the period 6,887 13,905 Additions 9,951 15,239 Reversal (2,426) (10) Write-off (507) (2,313) Balance at the end of the period 13,905 26,821

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Raw materials 90,882 106,667 Work-in-process 11,003 15,089 Finished goods 58,896 55,395 Total 160,781 177,151

Prepayments and other current_2

Prepayments and other current assets (Tables)	6 Months Ended
Prepayments and other current assets (Tables)	Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of prepayments and other current assets	Prepayments and other current assets consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Prepayments to suppliers 302,421 271,769 Contract cost assets 104,309 61,179 Others 36,770 73,756 Prepayments and other current assets 443,500 406,704

Long-term investments (Tables)

Long-term investments (Tables)	6 Months Ended
Long-term investments (Tables)	Jun. 30, 2024
Long-Term Investments [Abstract]
Schedule of long-term investments	As of December 31, As of June 30, 2023 2024 RMB RMB Equity method investments 252,407 198,468 Equity securities measured at fair value 48,580 21,985 Total long-term investments 300,987 220,453

Property and equipment, net (Ta

Property and equipment, net (Tables)	6 Months Ended
Property and equipment, net (Tables)	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment, net consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Machinery and electronic equipment 197,777 219,956 Transportation vehicles 5,654 4,990 Office and other equipment 20,614 21,399 Leasehold improvements 44,747 57,317 Construction in progress 7,938 15,621 Property and equipment 276,730 319,283 Less: accumulated depreciation (148,653) (175,130) Less: impairment (7,292) (6,894) Property and equipment, net 120,785 137,259
Schedule of depreciation expenses of property and equipment	Depreciation on property and equipment was allocated as follows: Six Months Ended June 30, 2023 2024 RMB RMB Cost of revenues 375 539 Selling, general and administrative expenses 15,034 14,509 Research and development expenses 11,675 12,226 Total depreciation 27,084 27,274

Intangible assets, net (Tables)

Intangible assets, net (Tables)	6 Months Ended
Intangible assets, net (Tables)	Jun. 30, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of intangible assets, net	Intangible assets, net consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Software 121,950 143,461 Software license rights 143,725 143,725 Trademark 139 139 Patents 2,655 141,224 Intangible assets 268,469 428,549 Less: accumulated amortization (86,183) (130,945) Less: impairment (2,945) (3,570) Intangible assets, net 179,341 294,034
Schedule of amortization expenses on intangible assets allocated to expense items	Amortization of intangible assets was allocated as follows: Six Months Ended June 30, 2023 2024 RMB RMB Cost of revenues — 23,954 Selling, general and administrative expenses 4,902 4,605 Research and development expenses 7,105 16,184 Total amortization 12,007 44,743

Short-term borrowings (Tables)

Short-term borrowings (Tables)	6 Months Ended
Short-term borrowings (Tables)	Jun. 30, 2024
Short-Term Debt [Abstract]
Schedule of short-term borrowings	Short-term borrowings consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Unsecured bank loans 1,200,000 1,600,000

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2024
Lessee Disclosure [Abstract]
Summary of components of lease cost	The components of lease cost were as follows: Six Months Ended June 30, 2023 2024 RMB RMB Operating lease costs 22,854 25,289 Short-term lease costs 1,660 1,529 Total 24,514 26,818 The lease cost was allocated as follows: Six Months Ended June 30, 2023 2024 RMB RMB Selling, general and administrative expenses 12,968 14,838 Research and development expenses 11,546 11,980 Total 24,514 26,818 Supplemental cash flow information related to operating leases was as follows: Six Months Ended June 30, 2023 2024 RMB RMB Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 6,484 17,567 Right-of-use assets obtained in exchange for lease obligations Operating leases 31,832 1,756
Summary of operating lease right-of-use assets and the amortization	The operating lease right-of-use assets and the amortization were as follows: As of December 31, As of June 30, 2023 2024 RMB RMB Operating lease right-of-use assets 172,643 159,117 Less: accumulated amortization (47,438) (32,306) Total 125,205 126,811 As of December 31, As of June 30, 2023 2024 Weighted average remaining lease term (years): Operating leases 6.14 5.98 Weighted average discount rate: Operating leases 8.65 % 8.39 %

Accrued expenses and other cu_2

Accrued expenses and other current liabilities and Provision (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Salaries and benefits payables 257,207 110,899 Taxes payable 101,487 80,591 Product warranties 41,924 42,553 Accrued costs of the Merger 54,984 54,984 Other payables and accrued charges* 158,938 135,937 Accrued expenses and other current liabilities 614,540 424,964 ___________________________ * Other payables and accrued charges primarily include accrual for research and development expenses.
Schedule of changes in product warranties	The following table provides a reconciliation of changes in the product warranties: As of December 31, As of June 30, 2023 2024 RMB RMB Balance at the beginning of the year/period 92,148 132,795 Additions 85,161 25,679 Settlements (44,514) (18,371) Balance at the end of the year/period 132,795 140,103 Including: Current portion of warranty included in “Accrued expenses and other current liabilities” 41,924 42,553 Noncurrent portion of warranty included in “Provision” 90,871 97,550

Convertible notes payable (Tabl

Convertible notes payable (Tables)	6 Months Ended
Convertible notes payable (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of convertible debt	The following is a summary of the Company’s convertible notes payable and its fair value as of December 31, 2023 and June 30, 2024. Principal amount Unamortized debt issuance costs Net Carrying amount Fair Value Amount Leveling RMB RMB RMB 5% Investor Notes due on November 8, 2025 As of December 31, 2023 461,494 (5,793) 455,701 396,884 Level 3 As of June 30, 2024 472,368 (4,751) 467,617 415,702 Level 3

Warrant liabilities (Tables)

Warrant liabilities (Tables)	6 Months Ended
Warrant liabilities (Tables)	Jun. 30, 2024
Warrants and Rights Note Disclosure [Abstract]
Schedule of warrants are remeasured utilizing key assumptions	The Binomial Option Pricing Model with the following key assumptions is used for estimating the fair value of ECARX Private Warrants. As of December 31, As of June 30, 2023 2024 Risk-free rate of return (%) 3.93 % 4.47 % Volatility 29.50 % 43.49 % Expected dividend yield 0.0 % 0.0 % Expected term 4.0 years 3.5 years Fair value of the underlying ordinary shares US$3.16 (equivalent to RMB22.44) US$2.06 (equivalent to RMB14.97)
Schedule of movement of ECARX warrants	The table below reflects the movement of ECARX Warrants for the six months ended June 30, 2024: January 1, 2024 RMB Addition Loss due to change in fair value Foreign exchange Settlement June Liabilities ECARX Public Warrants 3,195 — — 75 — 3,270 ECARX Private Warrants 1,946 — 236 49 — 2,231 Total 5,141 — 236 124 — 5,501

Share based compensation (Table

Share based compensation (Tables)	6 Months Ended
Share based compensation (Tables)	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of share-based payment arrangement activity	The following table summarizes activities of the Company's RSUs for the six months ended June 30, 2024: Number of Weighted Weighted Weighted Aggregate US$ US$ Outstanding at January 1, 2024 15,033,854 0.69 4.91 Granted (new RSUs) 117,250 — 3.51 Exercised (4,039,195) 0.03 — Outstanding at June 30, 2024 11,111,909 0.92 4.31 Vested and expected to vest as of June 30, 2024 11,111,909 0.92 4.31 8.81 38,054 Exercisable as of June 30, 2024 9,185,844 0.92 4.26 8.93 31,602 The following table summarizes activities of the options for the six months ended June 30, 2024: Number of Weighted Weighted Weighted Aggregate US$ US$ Outstanding at January 1, 2024 11,260,718 9.62 3.11 Granted 4,960,570 0.50 1.21 Forfeited (195,628) 7.36 2.86 Outstanding at June 30, 2024 16,025,660 6.82 2.52 Vested and expected to vest as of June 30, 2024 16,025,660 6.82 2.52 8.02 — Exercisable as of June 30, 2024 10,884,902 8.66 2.76 7.49 —
Summary of fair value of options granted that are estimated using the binomial model	The fair value of the options granted for the six months ended June 30, 2023 and 2024 are estimated using the binomial model with the following assumptions used: Six Months Ended June 30, 2023 2024 Risk-free rate of return 3.79 % 4.69 % Volatility 44.95 % 47.25 % Expected dividend yield 0.0 % 0.0 % Fair value of underlying ordinary share US$8.02 US$1.64 Expected terms 10 years 10 years
Summary of compensation expense recognized for RSUs	Compensation expenses recognized for RSUs and options for the six months ended June 30, 2023 and 2024 were allocated as follows. Six Months Ended June 30, 2023 2024 RMB RMB Selling, general and administrative expenses 32,565 55,066 Research and development expenses 19,661 15,859 Total 52,226 70,925

Revenue information (Tables)

Revenue information (Tables)	6 Months Ended
Revenue information (Tables)	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of disaggregation of revenue	Major products/services lines: Six Months Ended June 30, 2023 2024 RMB RMB Sales of goods revenues 1,264,263 1,700,670 Automotive computing platform 1,053,901 1,481,702 SoC Core Modules 200,255 217,376 Automotive merchandise and other products 10,107 1,592 Software license revenues 215,641 131,832 Service revenues 256,697 362,815 Automotive computing Platform – Design and development service 119,291 223,313 Connectivity service 99,508 78,162 Other services 37,898 61,340 Total revenues 1,736,601 2,195,317 Timing of revenue recognition: Six Months Ended June 30, 2023 2024 RMB RMB Point in time 1,637,093 2,117,155 Over time 99,508 78,162 Total revenues 1,736,601 2,195,317
Contract with customer, contract asset, contract liability, and receivable	Contract liabilities consisted of the following: As of December 31, As of June 30, 2023 2024 RMB RMB Current liabilities - third parties 621 1,517 Current liabilities - related parties 207,017 202,919 Non-current liabilities - third parties 2 6 Non-current liabilities - related parties 133,993 78,793 Contract liabilities, current and non-current 341,633 283,235

Other non-operating income (e_2

Other non-operating income (expenses), net (Tables)	6 Months Ended
Other non-operating income (expenses), net (Tables)	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of other non-operating income (expenses), net	Six Months Ended June 30, 2023 2024 RMB RMB Change in fair value of an equity security (Note 7) 27,722 (27,421) Change in fair value of warrant liabilities (Note 14) 4,781 (236) Change in fair value of derivative financial assets 16,189 — Government grants 2,695 9,172 Foreign currency exchange losses, net (34,668) (4,494) Total other non-operating income (expenses), net 16,719 (22,979)

Loss per share (Tables)

Loss per share (Tables)	6 Months Ended
Loss per share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of basic and diluted net loss per share	Basic and diluted net loss per share for the six months ended June 30, 2023 and 2024 have been calculated as follows: Six Months Ended June 30 2023 2024 RMB RMB Numerator: Net loss attributable to ECARX Holdings Inc. (375,126) (570,546) Numerator for basic and diluted net loss per share calculation (375,126) (570,546) Denominator: Weighted average number of ordinary shares – basic and diluted 337,395,390 337,935,301 Denominator for basic and diluted net loss per share calculation 337,395,390 337,935,301 Net loss per share attributable to ordinary shareholders — Basic and diluted (1.11) (1.69)
Schedule of potential dilutive instruments	The potential dilutive instruments that have not been included in the calculation of diluted loss per share as their inclusion would be anti-dilutive are as follows: Six Months Ended June 30 2023 2024 Warrants 23,871,971 23,871,971 Share options 11,389,486 16,025,660 Convertible Notes 5,652,174 5,652,174

Commitments and contingencies (

Commitments and contingencies (Tables)	6 Months Ended
Commitments and contingencies (Tables)	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum purchase commitments	As of June 30, 2024, the Group has future purchase commitment mainly related to the purchase of research and development services. Total purchase obligations contracted but not yet reflected in the unaudited condensed consolidated financial statements as of June 30, 2024 were as follows: Total Less than 1-2 Years 2-3 Years 3-5 Years Over 5 RMB RMB RMB RMB RMB RMB Purchase commitments 139,729 129,729 6,667 3,333 — —
Schedule of future minimum capital commitments	Total capital expenditures contracted but not yet reflected in the unaudited condensed consolidated financial statements as of June 30, 2024 were as follows: Total Less than 1-2 Years 2-3 Years 3-5 Years Over 5 RMB RMB RMB RMB RMB RMB Capital commitments 44,405 44,405 — — — —
Schedule of investment commitments	Total investment commitment contracted but not yet reflected in the unaudited condensed consolidated financial statements as of June 30, 2024 were as follows: Total Less than 1-2 Years 2-3 Years 3-5 Years Over 5 RMB RMB RMB RMB RMB RMB Investment commitments 23,500 23,500 — — — —

Related party balances and tr_2

Related party balances and transactions (Tables)	6 Months Ended
Related party balances and transactions (Tables)	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of significant related parties and their relationships	Related Parties Names of the major related parties Nature of relationship Zhejiang Geely Holding Group (“Geely Group”) and its subsidiaries Entity controlled by the controlling shareholder of the Company Proton Holdings Berhad and its subsidiaries Entity that the controlling shareholder of the Company has significant influence Anhui Xinzhi Technology Co., Ltd. Entity controlled by the controlling shareholder of the Company Zhejiang Huanfu Technology Co., Ltd., ("Zhejiang Huanfu", formerly known as Zhejiang Yikatong Technology Co., Ltd.) Entity controlled by the controlling shareholder of the Company Xi'an Liansheng Intelligent Technology Co., Ltd. Entity controlled by the controlling shareholder of the Company Hubei Xingji Meizu Group Co., Ltd. (formerly known as Hubei Yuanshidai Technology Co., Ltd.) Entity controlled by the controlling shareholder of the Company Wuhan Xingji Meizu Technology Co., Ltd and its subsidiaries Entity controlled by the controlling shareholder of the Company Hubei ECARX Technology Co., Ltd. (“Hubei ECARX”) Entity controlled by the controlling shareholder of the Company Arteus Group Limited Entity controlled by the controlling shareholder of the Company DreamSmart Technology Pte. Ltd. (“DreamSmart”) and its subsidiaries Entity controlled by the controlling shareholder of the Company Apollo Intelligent Connectivity (Beijing) Technology Co., Ltd. Entity that one director of the Company has significant influence SiEngine Technology Co., Ltd. (“SiEngine”) Entity which is under significant influence of the Company Hubei Dongjun Automotive Electronic Technology Co., Ltd. Entity which is under significant influence of the Company Shenzhen U Chance Technology Co., Ltd. Entity which is under significant influence of the Company HaleyTek AB Entity which is under significant influence of the Company
Schedule of related party transactions	Significant transactions with related parties, except transactions disclosed elsewhere in these unaudited condensed consolidated financial statements: Six Months Ended June 30, 2023 2024 RMB RMB Revenues(i): Sales of goods revenues 1,018,256 1,470,170 Automotive computing platform 1,013,860 1,467,211 SoC Core Modules 140 1,611 Automotive merchandise and other products 4,256 1,348 Software license revenues 164,995 92,923 Service revenues 256,427 361,772 Automotive computing platform – Design and development service 119,291 223,204 Connectivity service 99,254 78,103 Other services 37,882 60,465 Total 1,439,678 1,924,865 Six Months Ended June 30, 2023 2024 RMB RMB Purchase of products and services (ii) 216,079 376,504 Rental of office space, and administrative services (ii) 2,400 2,168 Other income (vi) 7,055 — Interest income on loans due from related parties (iii)(v) 6,771 5,899 Interest expense on borrowings due to related parties (iv) 6,116 7,706 Loans to related parties (iii) 12,000 9,800 Repayment received of loans to related parties (iii) 8,500 17,700 Repayment of borrowings from related parties (iv) — 100,000 Borrowings from related parties (iv) 300,000 449,000 (c) Balances with related parties: As of December 31, As of June 30, 2023 2024 RMB RMB Accounts receivable – related parties, net (i) 1,572,703 933,973 Amounts due from related parties (ii)(iii) 74,122 91,398 Other non-current assets - related parties (v) 224,349 274,370 Accounts payable – related parties (ii) (vii) 312,830 403,424 Amounts due to related parties (ii)(iv) 35,664 375,696 Other non-current liabilities– related parties (vii) 44,519 46,425 ___________________________ (i) The Group sold automotive computing platform products, merchandise and other products, software licenses and provided related technology development services, connectivity service, and other consulting services to a number of related parties. Accounts receivable, net due from related parties arising from sales of products and provision of services were RMB1,572,703 and RMB933,973 as of December 31, 2023 and June 30, 2024 , respectively. (ii) The Group purchased raw materials, technology development services and other consulting services from a number of related parties, of which, RMB24,014 and RMB75,008 of purchase of raw materials were recorded as inventories as of June 30, 2023 and 2024, respectively, RMB186,724 and RMB284,709 were recorded in cost of revenues for the six months ended June 30, 2023 and 2024 , respectively, RMB5,341 and RMB16,787 were recorded in operating expenses for the six months ended June 30, 2023 and 2024, respectively. T he Group also rented office space from related parties, pursuant to which, the Group recorded rental expenses of RMB2,400 and RMB2,168 in operating expenses for the six months ended June 30, 2023 and 2024, respectively. Accounts payable to related parties includes payables arising from purchase of raw materials and services of RMB 312,830 and RMB403,424 , amount due from related parties includes prepayments arising from purchase of raw materials and services of RMB 8,420 and RMB 79,884 as of December 31, 2023 and June 30, 2024 , respectively. Amounts due to related parties includes payables arising from purchase of technical services and logistics services of RMB 9,701 and RMB20,978 as of December 31, 2023 and June 30, 2024 , respectively. (iii) The Group provided loans of RMB 12,000 and RMB9,800 to related parties, and received repayments of RMB 8,500 and RMB 17,700 from related parties for the six months ended June 30, 2023 and 2024 respectively. Interest incomes on loans due from related parties were RMB 1,567 and RMB 374 for the six months ended June 30, 2023 and 2024, respectively. As of December 31, 2023 and June 30, 2024 , loans and interest receivables due from related parties were RMB 65,702 and RMB11,514 . (iv) In January 2023, ECARX (Hubei) Tech entered into an unsecured loan agreement with Geely Group in an amount of RMB 300,000 with an interest rate of 4.1% per annum, which was fully repaid in December 2023. The term of the loan was subsequently extended to June 30, 2025, and the interest rate was reduced to 3.9% per annum during the extended period. In January 2024, ECARX (Hubei) Tech obtained renewed RMB 300,000 loan from Geely Group. In June 2024, RMB 100,000 out of the loan was repaid, the remaining RMB 200,000 loan is repayable on June 30, 2025. In March 2024, the Group entered into an accounts receivable factoring agreement with a finance company of Geely Group with a minimum interest rate of 6.0% per annum (Note 3). The Group cumulated received RMB 149,000 from the finance company during current period. Interest expense on borrowings from related parties were RMB 6,116 and RMB 7,706 for the six months ended June 30, 2023 and 2024 , respectively. The borrowings and the interest payable on borrowings from related parties was included in the amounts due to related parties and was RMB 25,963 and RMB 354,718 as of December 31, 2023 and June 30, 2024 , respectively. (v) As of December 31, 2023 and June 30, 2024, the balance of other non-current assets due from related parties included the amounts due from its former VIE, Hubei ECARX in the amount of RMB224,349 and RMB274,370, which represented the net present value of a loan provided by the Group to Hubei ECARX with the principal of RMB252,287 and an effective annual interest rate of 5.0%. Interest incomes on loans due from related parties were RMB5,204 and RMB5,525 for the six months ended June 30, 2023 and 2024, respectively. (vi) Other income from related parties represents the amounts due from Arteus for recharges of expenses including those in relation to management service, sharing of office space, consultancy and other expenses paid by the Group on behalf of Arteus Group Limited. In June 2023, ECARX signed an assignment of rights agreement with Arteus and DreamSmart. The amounts due from Arteus were assigned to DreamSmart, all of which were settled as of December 31, 2023. (vii)

Summary of significant accoun_4

Summary of significant accounting policies - Narrative (Details) ¥ in Thousands, kr in Thousands, $ in Thousands		1 Months Ended		6 Months Ended
	Jan. 31, 2024 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2024 SEK (kr)	Jun. 30, 2024 CNY (¥) ¥ / $	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	May 31, 2024
Investments in and Advances to Affiliates, Activity [Line Items]
Net loss				¥ (610,321)	$ (83,983)	¥ (405,867)
Net cash used in operating activities				416,811	$ 57,355	¥ 960,437
Current liabilities in excess of current assets				¥ (1,604,975)
Conversion rate for translation of amounts (in RMB/USD) \| ¥ / $				7.2672
Minimum \| Suzhou Photon-Matrix
Investments in and Advances to Affiliates, Activity [Line Items]
Equity interest (as a percent)	49.17%						49%
Maximum \| Suzhou Photon-Matrix
Investments in and Advances to Affiliates, Activity [Line Items]
Equity interest (as a percent)	62.27%
Hubei ECARX \| Suzhou Photon-Matrix
Investments in and Advances to Affiliates, Activity [Line Items]
Equity interest percentage	13.10%
Amount of cash consideration	¥ 46,306
Hubei ECARX \| Forecast
Investments in and Advances to Affiliates, Activity [Line Items]
Payments to acquire interest in subsidiaries		¥ 10,854	kr 16,111

Summary of significant accoun_5

Summary of significant accounting policies - HF EU (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
ASSETS
Current assets	¥ 2,946,929			$ 405,510	¥ 3,328,321
Total assets	4,033,630			555,044	4,307,224
Liabilities
Current liabilities	4,551,904			626,363	4,252,228
Total liabilities	5,443,351			$ 749,029	5,138,852
Revenue	2,195,317	$ 302,086	¥ 1,736,601
Total cost of revenues	(1,699,542)	(233,865)	(1,223,102)
Gross profit	495,775	68,221	513,499
Profit / (loss) from operations	(485,646)	(66,828)	(376,503)
Profit / (loss) before income taxes	(610,519)	(84,010)	(405,541)
Net profit / (loss)	(570,546)	$ (78,510)	(375,126)
Hubei ECARX \| Subsidiaries
ASSETS
Current assets	51,551				39,580
Total assets	51,551				39,580
Liabilities
Current liabilities	62,743				36,749
Total liabilities	62,743				¥ 36,749
Revenue	26,170		19,164
Total cost of revenues	(40,514)		(13,200)
Gross profit	(14,344)		5,964
Profit / (loss) from operations	(17,692)		5,470
Profit / (loss) before income taxes	(17,395)		5,461
Net profit / (loss)	¥ (17,395)		¥ 5,461

Summary of significant accoun_6

Summary of significant accounting policies - Risks and concentration (Details) - Customer concentration risk	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts receivable - third parties, net \| Geely Group and its subsidiaries
Risks and Concentration
Concentration risk percentage	77.50%		86.40%
Accounts receivable - third parties, net \| Customer A, a third party
Risks and Concentration
Concentration risk percentage	46.50%		42%
Accounts receivable - third parties, net \| Customer A, a third party
Risks and Concentration
Concentration risk percentage	31.30%
Accounts receivable - third parties, net \| Customer B, a third party
Risks and Concentration
Concentration risk percentage			28.60%
Accounts receivable - third parties, net \| Customer C, a third party
Risks and Concentration
Concentration risk percentage			15.10%
Total revenues \| Geely Group and its subsidiaries
Risks and Concentration
Concentration risk percentage	79.40%	72.90%
Accounts payable \| Supplier A, a third party
Risks and Concentration
Concentration risk percentage	18.30%		15.70%
Accounts payable \| Supplier B, a third party
Risks and Concentration
Concentration risk percentage	16.50%		12.50%
Accounts payable \| Supplier C, a third party
Risks and Concentration
Concentration risk percentage	12.30%		22.80%
Liabilities, Total \| Supplier A, a third party
Risks and Concentration
Concentration risk percentage	25.70%	23.10%
Liabilities, Total \| Supplier B, a third party
Risks and Concentration
Concentration risk percentage		13.20%
Liabilities, Total \| Supplier C, a third party
Risks and Concentration
Concentration risk percentage	21.20%

Summary of significant accoun_7

Summary of significant accounting policies - Prior period reclassifications (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Reclassification
Selling, general and administrative expenses	¥ (408,290)	$ (56,183)	¥ (414,769)
Change in fair value of an equity security	(27,421)		27,722
Change in fair value of warrant liabilities	236		(4,781)
Change in fair value of derivative financial assets	0		16,189
Government grants	9,172		2,695
Foreign currency exchange losses, net	(4,494)		(34,668)
Other non-operating income (expenses), net	¥ (22,979)	$ (3,161)	16,719
Before reclassification
Reclassification
Selling and marketing expenses			(36,931)
General and administrative expenses			(377,838)
Change in fair value of an equity security			27,722
Change in fair value of warrant liabilities			(4,781)
Change in fair value of derivative financial assets			16,189
Government grants			2,695
Foreign currency exchange losses, net			¥ (34,668)

Cash and restricted cash - Reco

Cash and restricted cash - Reconciliation (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Cash and Cash Equivalents [Abstract]
Cash at banks	¥ 787,639	$ 108,383	¥ 571,760
Restricted cash	159	22	27,126
Cash and restricted cash shown in the unaudited condensed consolidated statements of cash flows	¥ 787,798	$ 108,405	¥ 598,886	$ 82,409	¥ 927,782	¥ 901,429

Cash and restricted cash - Depo

Cash and restricted cash - Deposits in financial institutions (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	¥ 787,798	$ 108,405	¥ 598,886	$ 82,409	¥ 927,782	¥ 901,429
Restricted cash	159	$ 22	27,126
Asset Pledged as Collateral \| Restricted Cash For Notes Payable
Cash and restricted cash
Restricted cash	159		3,513
Asset Pledged as Collateral \| Restricted Cash For Litigation
Cash and restricted cash
Restricted cash			23,613
PRC
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	749,447		542,645
PRC \| RMB
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	732,805		528,022
PRC \| US
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	16,433		14,542
PRC \| GBP
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	89		81
PRC \| Euro
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	109		0
PRC \| HKD
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	11		0
Hong Kong
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	628		40
Hong Kong \| RMB
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	27		27
Hong Kong \| HKD
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	601		13
Sweden
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	34,949		39,788
Sweden \| US
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	207		204
Sweden \| SEK
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	34,742		39,584
United Kingdom
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	562		12,356
United Kingdom \| GBP
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	562		12,356
United States
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	2,079		3,867
United States \| US
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	2,079		3,867
Germany
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	133		190
Germany \| Euro
Cash and restricted cash
Cash and restricted cash shown in the consolidated statements of cash flows	¥ 133		¥ 190

Accounts receivable, net - Acco

Accounts receivable, net - Accounts receivable, net (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Nonrelated Party
Related party balances and transactions
Accounts receivable		¥ 243,589	¥ 288,507
Less: Allowance for doubtful accounts		(3,546)	(2,688)
Accounts receivable	$ 33,031	240,043	285,819
Related Party
Related party balances and transactions
Accounts receivable		957,248	1,583,920
Less: Allowance for doubtful accounts		(23,275)	(11,217)
Accounts receivable	$ 128,519	¥ 933,973	¥ 1,572,703

Accounts receivable, net - Move

Accounts receivable, net - Movement of the allowance for doubtful accounts (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the year	¥ 13,905	¥ 6,887
Additions	15,239	9,951
Reversal	(10)	(2,426)
Write-off	(2,313)	¥ (507)
Balance at the end of the year	¥ 26,821

Accounts receivable, net - Fact

Accounts receivable, net - Factoring agreement (Details) - CNY (¥) ¥ in Thousands	1 Months Ended
	Mar. 31, 2024	Jun. 30, 2024
Receivables [Abstract]
Minimum interest rate	6%
Factoring agreement period	1 year
Factoring accounts receivable		¥ 149,000
Factoring accounts receivable, advanced amount		¥ 186,250

Notes receivable (Details)

Notes receivable (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Financial Instruments Owned and Pledged as Collateral [Line Items]
Notes receivable	¥ 171,926	$ 23,658	¥ 54,634
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Notes receivable	¥ 16		¥ 6,603

Inventories - Inventory (Detail

Inventories - Inventory (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Inventory Disclosure [Abstract]
Raw materials	¥ 106,667		¥ 90,882
Work-in-process	15,089		11,003
Finished goods	55,395		58,896
Total	¥ 177,151	$ 24,377	¥ 160,781

Inventories -Narrative (Details

Inventories -Narrative (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
Inventories -Narrative (Details) - CNY (¥) ¥ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory write-down	¥ 1,817	¥ 9,535

Prepayments and other current_3

Prepayments and other current assets (Details) $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Prepaid Expense and Other Assets, Current [Abstract]
Prepayments to suppliers	¥ 271,769,000		¥ 302,421,000
Contract cost assets	61,179,000		104,309,000
Others	73,756,000		36,770,000
Prepayments and other current assets	406,704,000	$ 55,962	443,500,000
Provision for prepayments and other current assets	¥ 0		¥ 0

Long-term investments - Investm

Long-term investments - Investments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2023 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Long-Term Investments [Abstract]
Equity method investments	¥ 198,468,000			¥ 252,407,000
Equity securities	21,985,000			48,580,000
Total long-term investments	220,453,000		$ 30,335	¥ 300,987,000
Impairment loss recognized	¥ 6,446,000	¥ 0

Long-term investments - Equity

Long-term investments - Equity method investments (Details) - CNY (¥) ¥ in Thousands	May 31, 2024	Jan. 31, 2024
Suzhou Photon-Matrix \| Hubei ECARX
Long-term investments
Equity interest percentage		13.10%
Derecognized equity carrying value		¥ 34,829
Suzhou Photon-Matrix \| Minimum
Long-term investments
Equity interest (as a percent)	49%	49.17%
Suzhou Photon-Matrix \| Maximum
Long-term investments
Equity interest (as a percent)		62.27%

Long-term investments - Equit_2

Long-term investments - Equity securities (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 28, 2024 CNY (¥) shares	Jun. 28, 2024 USD ($) shares	Jun. 30, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Long-term investments
Equity securities \| ¥			¥ 21,985	¥ 48,580
Equity securities, annual amount	¥ 27,421	$ 3,773
Luminar Technologies, Inc
Long-term investments
Equity securities (in shares) \| shares	2,030,374	2,030,374
Equity securities \| $		$ 3,025

Property and equipment, net - S

Property and equipment, net - Schedule of property and equipment (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Property and equipment, net
Property and equipment	¥ 319,283		¥ 276,730
Less: accumulated depreciation	(175,130)		(148,653)
Less: impairment	(6,894)		(7,292)
Property and equipment, net	137,259	$ 18,887	120,785
Machinery and electronic equipment
Property and equipment, net
Property and equipment	219,956		197,777
Transportation vehicles
Property and equipment, net
Property and equipment	4,990		5,654
Office and other equipment
Property and equipment, net
Property and equipment	21,399		20,614
Leasehold improvements
Property and equipment, net
Property and equipment	57,317		44,747
Construction in progress
Property and equipment, net
Property and equipment	¥ 15,621		¥ 7,938

Property and equipment, net - D

Property and equipment, net - Depreciation expenses on property and equipment allocated to expense items (Details) - CNY (¥)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property and equipment, net
Total depreciation	¥ 27,274,000	¥ 27,084,000
Impairment loss	0	0
Cost of revenues
Property and equipment, net
Total depreciation	539,000	375,000
Selling, general and administrative expenses
Property and equipment, net
Total depreciation	14,509,000	15,034,000
Research and development expenses
Property and equipment, net
Total depreciation	¥ 12,226,000	¥ 11,675,000

Intangible assets, net - Intang

Intangible assets, net - Intangible assets (Details) - CNY (¥) ¥ in Thousands	Jan. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Intangible assets, net
Intangible assets		¥ 428,549	¥ 268,469
Less: accumulated amortization		(130,945)	(86,183)
Less: impairment		(3,570)	(2,945)
Intangible assets, net		294,034	179,341
Software
Intangible assets, net
Intangible assets		143,461	121,950
Software license rights
Intangible assets, net
Intangible assets		143,725	143,725
Trademark
Intangible assets, net
Intangible assets		139	139
Patents
Intangible assets, net
Intangible assets		¥ 141,224	¥ 2,655
Intangible assets acquired	¥ 138,569
Intangible assets, estimated useful life		10 years

Intangible assets, net - Amorti

Intangible assets, net - Amortization expenses on intangible assets allocated to expense items (Details) - CNY (¥)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Intangible assets, net
Total amortization	¥ 44,743,000	¥ 12,007,000
Impairment loss	625,000	0
Cost of revenues
Intangible assets, net
Total amortization	23,954,000	0
Selling, general and administrative expenses
Intangible assets, net
Total amortization	4,605,000	4,902,000
Research and development expenses
Intangible assets, net
Total amortization	¥ 16,184,000	¥ 7,105,000

Short-term borrowings - Schedul

Short-term borrowings - Schedule of short-term borrowings (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Short-term borrowings
Short-term borrowings	¥ 1,600,000	$ 220,167	¥ 1,200,000
Unsecured bank loans
Short-term borrowings
Short-term borrowings	¥ 1,600,000		¥ 1,200,000

Short-term borrowings -Narrativ

Short-term borrowings -Narrative (Details) - Unsecured bank loans - CNY (¥)	Jun. 30, 2024	Dec. 31, 2023
Short-term borrowings
Total line of credit	¥ 1,700,000,000	¥ 1,200,000,000
Unused portion of line of credit	100,000,000	0
Short-term borrowings guaranteed	¥ 0	¥ 180,000,000
Loan One
Short-term borrowings
Interest rate (in percent)	4%	3.80%
Loan Two
Short-term borrowings
Interest rate (in percent)	3.90%	3.90%
Loan Three
Short-term borrowings
Interest rate (in percent)		4%

Leases - Components of lease co

Leases - Components of lease cost (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lessee Disclosure [Abstract]
Operating lease costs	¥ 25,289	¥ 22,854
Short-term lease costs	1,529	1,660
Total	¥ 26,818	¥ 24,514

Leases - Lease cost allocated e

Leases - Lease cost allocated expense items (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases
Total	¥ 26,818	¥ 24,514
Selling, general and administrative expenses
Leases
Total	14,838	12,968
Research and development expenses
Leases
Total	¥ 11,980	¥ 11,546

Leases - Operating lease right-

Leases - Operating lease right-of-use assets and the amortization (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Lessee Disclosure [Abstract]
Operating lease right-of-use assets	¥ 159,117		¥ 172,643
Less: accumulated amortization	(32,306)		(47,438)
Total	¥ 126,811	$ 17,450	¥ 125,205

Leases -Weighted average remain

Leases -Weighted average remaining lease term and discount rate (Details)	Jun. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Weighted average remaining lease term (years), Operating leases	5 years 11 months 23 days	6 years 1 month 20 days
Weighted average discount rate, Operating leases	8.39%	8.65%

Leases - Supplemental cash flow

Leases - Supplemental cash flow information related to operating leases (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	¥ 17,567	¥ 6,484
Right-of-use assets obtained in exchange for lease obligations
Operating leases	¥ 1,756	¥ 31,832

Accrued expenses and other cu_3

Accrued expenses and other current liabilities and Provision - Accrued expenses and other current liabilities (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Accrued Liabilities and Other Liabilities [Abstract]
Salaries and benefits payables	¥ 110,899		¥ 257,207
Taxes payable	80,591		101,487
Product warranties	42,553		41,924
Accrued costs of the Merger	54,984		54,984
Other payables and accrued charges	135,937		158,938
Accrued expenses and other current liabilities	¥ 424,964	$ 58,477	¥ 614,540

Accrued expenses and other cu_4

Accrued expenses and other current liabilities and Provision - Product warranties (Details) ¥ in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Jun. 30, 2024 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at the beginning of the year/period	¥ 132,795	¥ 92,148
Additions	25,679	85,161
Settlements	(18,371)	(44,514)
Balance at the end of the year/period	140,103	132,795
Current portion of warranty included in “Accrued expenses and other current liabilities”	42,553	41,924
Noncurrent portion of warranty included in “Provision”	¥ 97,550	¥ 90,871	$ 13,423

Convertible notes payable (Deta

Convertible notes payable (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Debt Instrument [Line Items]
Convertible notes payable	¥ 467,617	$ 64,346	¥ 455,701
Convertible notes
Debt Instrument [Line Items]
Interest rate (in percent)	5%	5%	5%
Aggregate principal amount	¥ 472,368		¥ 461,494
Unamortized debt issuance costs	(4,751)		(5,793)
Convertible notes payable	467,617		455,701
Estimate of Fair Value Measurement \| Level 3 \| Convertible notes
Debt Instrument [Line Items]
Fair value	¥ 415,702		¥ 396,884

Warrant liabilities- ECARX Warr

Warrant liabilities- ECARX Warrants in connection with the Merger (Details) - Level 3 - ECARX Private Warrants	Jun. 30, 2024	Jun. 30, 2024 decimal	Jun. 30, 2024 $ / shares	Jun. 30, 2024 ¥ / shares	Dec. 31, 2023	Dec. 31, 2023 decimal	Dec. 31, 2023 $ / shares	Dec. 31, 2023 ¥ / shares
Risk-free rate of return (%)
Warrant liabilities
Warrants measurement input	0.0447				0.0393
Volatility
Warrant liabilities
Warrants measurement input	0.4349				0.2950
Expected dividend yield
Warrant liabilities
Warrants measurement input	0				0
Fair value of the underlying ordinary shares (in USD or RMB per share)
Warrant liabilities
Warrants measurement input			2.06	14.97			3.16	22.44
Expected term
Warrant liabilities
Warrants measurement input		3.5				4

Warrant liabilities - ECARX War

Warrant liabilities - ECARX Warrants in connection with the Merger - Movements (Details) - 6 months ended Jun. 30, 2024 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Warranty Liability [Roll Forward]
Liability at the beginning	¥ 5,141
Liability at the end	5,501	$ 757
ECARX Warrants
Warranty Liability [Roll Forward]
Liability at the beginning	5,141
Addition RMB	0
Loss due to change in fair value RMB	236
Foreign exchange translation RMB	124
Settlement RMB	0
Liability at the end	5,501
ECARX Public Warrants
Warranty Liability [Roll Forward]
Liability at the beginning	3,195
Addition RMB	0
Loss due to change in fair value RMB	0
Foreign exchange translation RMB	75
Settlement RMB	0
Liability at the end	3,270
ECARX Private Warrants
Warranty Liability [Roll Forward]
Liability at the beginning	1,946
Addition RMB	0
Loss due to change in fair value RMB	236
Foreign exchange translation RMB	49
Settlement RMB	0
Liability at the end	¥ 2,231

Share based compensation - Narr

Share based compensation - Narrative (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	1 Months Ended		6 Months Ended
	Apr. 30, 2024 shares	Feb. 29, 2024 shares	Jun. 30, 2024 CNY (¥) $ / shares shares	Jun. 30, 2023	Jun. 30, 2024 USD ($)
Share based compensation
Nonvested (in shares) \| ¥			¥ 22,449
Weighted-average period			1 year 2 months 12 days
Share Incentive Plan, 2022
Share based compensation
Aggregate number of share options granted (in shares)	4,960,570
Service period	12 months
Share Incentive Plan, 2022 \| After the completion of a qualified IPO
Share based compensation
Vesting percentage	25%
Share Incentive Plan, 2022 \| RSU
Share based compensation
Shares vested (in shares)		117,250
Aggregate number of shares granted (in shares)		117,250
2021 Option Plan
Share based compensation
Aggregate number of share options granted (in shares)			4,960,570,000
Exercise price per share (in USD per share) \| $ / shares			¥ 0.50
Expected dividend yield			0%	0%
Total unrecognized compensation expense			¥ 66,196		$ 9,290

Share based compensation - Acti

Share based compensation - Activities of company's RSUs (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Number of RSUs
Outstanding at the beginning (in shares) \| shares	15,033,854,000
Granted (new RSUs) (in shares) \| shares	117,250,000
Exercised (in shares) \| shares	(4,039,195,000)
Outstanding at the end (in shares) \| shares	11,111,909,000
Vested and expected to vest (in shares) \| shares	11,111,909,000
Exercisable (in shares) \| shares	9,185,844,000
Weighted Average Exercise Price
Outstanding at the beginning (in USD per share)	$ 0.69
Granted (new RSUs) (in USD per share)	0
Exercised (in USD per share)	0.03
Outstanding at the end (in USD per share)	0.92
Vested and expected to vest (in USD per share)	0.92
Exercisable (in USD per share)	0.92
Weighted Average Fair value at grant date
Outstanding at the beginning (in USD per share)	4.91
Granted (new RSUs) (in USD per share)	3.51
Exercised (in USD per share)	0
Outstanding at the end (in USD per share)	4.31
Vested and expected to vest (in USD per share)	4.31
Exercisable (in USD per share)	$ 4.26
Weighted remaining contractual years
Vested and expected to vest (in years)	8 years 9 months 21 days
Exercisable (in years)	8 years 11 months 4 days
Aggregate intrinsic value
Vested and expected to vest \| $	$ 38,054
Exercisable \| $	$ 31,602

Share based compensation - Fair

Share based compensation - Fair value of RSUs granted estimated using binomial model (Details) - 2021 Option Plan - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share based compensation
Risk-free rate of return	4.69%	3.79%
Volatility	47.25%	44.95%
Expected dividend yield	0%	0%
Issuance price (in USD per share)	$ 1.64	$ 8.02
Expected terms	10 years	10 years

Share based compensation - Comp

Share based compensation - Compensation expense recognized (Details) - 2021 Option Plan - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share based compensation
Total compensation expense recognized	¥ 70,925	¥ 52,226
Selling, general and administrative expenses
Share based compensation
Total compensation expense recognized	55,066	32,565
Research and development expenses
Share based compensation
Total compensation expense recognized	¥ 15,859	¥ 19,661

Share based compensation - Ac_2

Share based compensation - Activities of options (Details) - 2021 Option Plan	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of RSUs
Outstanding at the beginning (in shares) \| shares	11,260,718,000
Granted (in shares) \| shares	4,960,570,000
Forfeited (in shares) \| shares	(195,628,000)
Outstanding at the end (in shares) \| shares	16,025,660,000
Vested and expected to vest (in shares) \| shares	16,025,660,000
Exercisable (in shares) \| shares	10,884,902,000
Weighted Average Exercise Price
Outstanding at the beginning (in USD per share)	$ 9.62
Granted (in dollars per share)	0.50
Forfeited (in USD per share)	7.36
Outstanding at the end (in USD per share)	6.82
Vested and expected to vest (in USD per share)	6.82
Exercisable (in USD per share)	8.66
Weighted Average Fair value at grant date
Outstanding at the beginning (in USD per share)	3.11
Granted (in USD per share)	1.21
Forfeited (in USD per share)	2.86
Outstanding at the end (in USD per share)	2.52
Vested and expected to vest (in USD per share)	2.52
Exercisable (in USD per share)	$ 2.76
Weighted remaining contractual years
Vested and expected to vest	8 years 7 days
Exercisable	7 years 5 months 26 days

Revenue information - Schedule

Revenue information - Schedule of revenue (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Disaggregation of Revenue [Line Items]
Total revenues	¥ 2,195,317	$ 302,086	¥ 1,736,601
Point in time
Disaggregation of Revenue [Line Items]
Total revenues	2,117,155		1,637,093
Over time
Disaggregation of Revenue [Line Items]
Total revenues	78,162		99,508
Sales of goods revenues
Disaggregation of Revenue [Line Items]
Total revenues	1,700,670	234,020	1,264,263
Automotive computing platform
Disaggregation of Revenue [Line Items]
Total revenues	1,481,702		1,053,901
SoC Core Modules
Disaggregation of Revenue [Line Items]
Total revenues	217,376		200,255
Automotive merchandise and other products
Disaggregation of Revenue [Line Items]
Total revenues	1,592		10,107
Software license revenues
Disaggregation of Revenue [Line Items]
Total revenues	131,832	18,141	215,641
Service revenues
Disaggregation of Revenue [Line Items]
Total revenues	362,815	$ 49,925	256,697
Automotive computing platform – Design and development service
Disaggregation of Revenue [Line Items]
Total revenues	223,313		119,291
Connectivity service
Disaggregation of Revenue [Line Items]
Total revenues	78,162		99,508
Other services
Disaggregation of Revenue [Line Items]
Total revenues	¥ 61,340		¥ 37,898

Revenue information - Narrative

Revenue information - Narrative (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue recognized from contract liabilities	¥ 99,258	¥ 101,443
The PRC, excluding Hong Kong S.A.R. \| Total revenues \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	97.60%	97.20%

Revenue information - Schedul_2

Revenue information - Schedule of contract liabilities (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Related party balances and transactions
Contract liabilities, current and non-current	¥ 283,235		¥ 341,633
Nonrelated Party
Related party balances and transactions
Contract liabilities, current	1,517	$ 209	621
Contract liabilities, non-current	6	1	2
Related Party
Related party balances and transactions
Contract liabilities, current	202,919	27,923	207,017
Contract liabilities, non-current	¥ 78,793	$ 10,842	¥ 133,993

Other non-operating income (e_3

Other non-operating income (expenses), net (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Other Income and Expenses [Abstract]
Change in fair value of an equity security (Note 7)	¥ (27,421)		¥ 27,722
Change in fair value of warrant liabilities	(236)		4,781
Change in fair value of derivative financial assets	0		16,189
Government grants	9,172		2,695
Foreign currency exchange losses, net	(4,494)		(34,668)
Total other non-operating income (expenses), net	¥ (22,979)	$ (3,161)	¥ 16,719

Loss per share - Schedule of ba

Loss per share - Schedule of basic and diluted net loss per share (Details) ¥ / shares in Units, ¥ in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares	Jun. 30, 2024 CNY (¥) ¥ / shares shares	Jun. 30, 2023 CNY (¥) ¥ / shares shares
Numerator:
Numerator for basic and diluted net loss per share calculation \| ¥		¥ (570,546)	¥ (375,126)
Denominator:
Weighted average number of ordinary shares – basic (in shares)		337,935,301	337,395,390
Weighted average number of ordinary shares – diluted (in shares)		337,935,301	337,395,390
Basic loss per share, ordinary shares (in CNY per share) \| (per share)	$ (0.23)	¥ (1.69)	¥ (1.11)
Diluted loss per share, ordinary shares (in CNY per share) \| (per share)	$ (0.23)	¥ (1.69)	¥ (1.11)

Loss per share - Anti-dilutive

Loss per share - Anti-dilutive securities (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Warrants
Anti-dilutive securities
Anti-dilutive securities (in shares)	23,871,971,000	23,871,971,000
Share options
Anti-dilutive securities
Anti-dilutive securities (in shares)	16,025,660,000	11,389,486,000
Convertible Notes
Anti-dilutive securities
Anti-dilutive securities (in shares)	5,652,174,000	5,652,174,000

Commitments and contingencies_2

Commitments and contingencies (Details) - CNY (¥) ¥ in Thousands	Jul. 15, 2024	Jun. 30, 2024
Purchase commitments
Total		¥ 139,729
Less than one year		129,729
1-2 Years		6,667
2-3 Years		3,333
3-5 Years		0
Over 5 Years		0
Capital commitments
Total		44,405
Less than one year		44,405
1-2 Years		0
2-3 Years		0
3-5 Years		0
Over 5 Years		¥ 0
Hubei Dongjun Automotive Electronics Technology Co., Ltd.
Investment commitments
Equity interest percentage		51%
Hubei Dongjun Automotive Electronics Technology Co., Ltd. \| Subsequent events
Investment commitments
Equity interest percentage	51%
Investment commitments
Investment commitments
Total		¥ 23,500
Less than one year		23,500
1-2 Years		0
2-3 Years		0
3-5 Years		0
Over 5 Years		¥ 0

Related party balances and tr_3

Related party balances and transactions - Revenues (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Related party balances and transactions
Revenue	¥ 2,195,317	$ 302,086	¥ 1,736,601
Related Party
Related party balances and transactions
Revenue	1,924,865		1,439,678
Sales of goods revenues
Related party balances and transactions
Revenue	1,700,670	234,020	1,264,263
Sales of goods revenues \| Related Party
Related party balances and transactions
Revenue	1,470,170		1,018,256
Automotive computing platform
Related party balances and transactions
Revenue	1,481,702		1,053,901
Automotive computing platform \| Related Party
Related party balances and transactions
Revenue	1,467,211		1,013,860
SoC Core Modules
Related party balances and transactions
Revenue	217,376		200,255
SoC Core Modules \| Related Party
Related party balances and transactions
Revenue	1,611		140
Automotive merchandise and other products
Related party balances and transactions
Revenue	1,592		10,107
Automotive merchandise and other products \| Related Party
Related party balances and transactions
Revenue	1,348		4,256
Software license revenues
Related party balances and transactions
Revenue	131,832	18,141	215,641
Software license revenues \| Related Party
Related party balances and transactions
Revenue	92,923		164,995
Service revenues
Related party balances and transactions
Revenue	362,815	$ 49,925	256,697
Service revenues \| Related Party
Related party balances and transactions
Revenue	361,772		256,427
Automotive computing platform – Design and development service
Related party balances and transactions
Revenue	223,313		119,291
Automotive computing platform – Design and development service \| Related Party
Related party balances and transactions
Revenue	223,204		119,291
Connectivity service
Related party balances and transactions
Revenue	78,162		99,508
Connectivity service \| Related Party
Related party balances and transactions
Revenue	78,103		99,254
Other services
Related party balances and transactions
Revenue	61,340		37,898
Other services \| Related Party
Related party balances and transactions
Revenue	¥ 60,465		¥ 37,882

Related party balances and tr_4

Related party balances and transactions - Transactions (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Purchase of products and services
Related party balances and transactions
Amount of transaction	¥ 376,504	¥ 216,079
Rental of office space, and administrative services
Related party balances and transactions
Amount of transaction	2,168	2,400
Other income from related party
Related party balances and transactions
Amount of transaction	0	7,055
Interest income on loans
Related party balances and transactions
Amount of transaction	5,899	6,771
Interest expense on borrowings
Related party balances and transactions
Amount of transaction	7,706	6,116
Loans to related parties
Related party balances and transactions
Amount of transaction	9,800	12,000
Repayment received of loans to related parties
Related party balances and transactions
Amount of transaction	17,700	8,500
Repayment of borrowings from related parties
Related party balances and transactions
Amount of transaction	100,000	0
Borrowings from related parties
Related party balances and transactions
Amount of transaction	¥ 449,000	¥ 300,000

Related party balances and tr_5

Related party balances and transactions - Related party balances (Details) ¥ in Thousands, $ in Thousands			1 Months Ended			6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jan. 31, 2024	Mar. 31, 2024 CNY (¥)	Nov. 30, 2023 CNY (¥)	Jan. 31, 2023 CNY (¥)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2023 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Related party balances and transactions
Amounts due from related parties								$ 12,577	¥ 91,398	¥ 74,122
Amounts due to related parties								51,697	375,696	35,664
Total liabilities								749,029	5,443,351	5,138,852
Purchase of products and services
Related party balances and transactions
Amount of transaction						¥ 376,504	¥ 216,079
Loans to related parties
Related party balances and transactions
Amount of transaction						9,800	12,000
Interest income on loans
Related party balances and transactions
Amount of transaction						5,899	6,771
Rental of office space, and administrative services
Related party balances and transactions
Amount of transaction						2,168	2,400
Repayment received of loans to related parties
Related party balances and transactions
Amount of transaction						17,700	8,500
Related Party
Related party balances and transactions
Accounts receivable								128,519	933,973	1,572,703
Amounts due from related parties									91,398	74,122
Other non-current assets – related parties								37,755	274,370	224,349
Accounts payable – related parties								55,513	403,424	312,830
Amounts due to related parties									375,696	35,664
Other non-current liabilities – related parties								$ 6,388	46,425	44,519
Inventory purchases						75,008	24,014
Cost of revenues						284,709	186,724
Interest expense						7,706	6,116
Related Party \| Geely Group \| Unsecured bank loans
Related party balances and transactions
Face amount of debt			¥ 149,000		¥ 300,000				200,000
Interest rate		3.90%	6%		4.10%
Repayments of debt	¥ 100,000
Related Party \| Hubei ECARX
Related party balances and transactions
Other non-current assets – related parties									274,370	224,349
Amount of transaction						¥ 252,287
Interest rate						5%
Related Party \| Xingji Meizu
Related party balances and transactions
Accounts payable – related parties									50,000
Other non-current liabilities – related parties									46,425
Interest rate						4%
Software licensing agreement period				3 years
Total liabilities									96,425
Related Party \| Operating expense
Related party balances and transactions
Amount of transaction						¥ 16,787	5,341
Related Party \| Purchase of products and services
Related party balances and transactions
Amounts due from related parties									79,884	8,420
Accounts payable – related parties									403,424	312,830
Related Party \| Technical and logistical services
Related party balances and transactions
Amounts due to related parties									20,978	9,701
Related Party \| Loans to related parties
Related party balances and transactions
Amount of transaction						9,800	12,000
Related Party \| Interest income on loans \| Hubei ECARX
Related party balances and transactions
Amount of transaction						5,525	5,204
Related Party \| Interest Income On Loans Due From Related Party
Related party balances and transactions
Amount of transaction						374	1,567
Related Party \| Loans and interest receivable
Related party balances and transactions
Amounts due from related parties									11,514	65,702
Related Party \| Borrowings and interest payable on borrowing
Related party balances and transactions
Amounts due to related parties									¥ 354,718	¥ 25,963
Related Party \| Annual Software Sales \| Xingji Meizu
Related party balances and transactions
Amount of transaction				¥ 50,000
Related Party \| Rental of office space, and administrative services
Related party balances and transactions
Amount of transaction						2,168	2,400
Related Party \| Repayment received of loans to related parties
Related party balances and transactions
Amount of transaction						¥ 17,700	¥ 8,500

Subsequent events (Details)

Subsequent events (Details) ¥ in Thousands, kr in Thousands	Aug. 01, 2024 CNY (¥)	Aug. 01, 2024 SEK (kr)	Jul. 15, 2024 CNY (¥)	Jun. 30, 2024
Hubei Dongjun Automotive Electronics Technology Co., Ltd.
Subsequent events
Equity interest percentage				51%
Subsequent events \| HaleyTek
Subsequent events
Equity interest sold (as a percent)	40%	40%
Cash consideration for sale of equity method investment	¥ 140,238	kr 210,000
Subsequent events \| Hubei Dongjun Automotive Electronics Technology Co., Ltd.
Subsequent events
Equity interest percentage			51%
Amount of cash consideration			¥ 23,500