PSNY Polestar Automotive Holding UK PLC

ECARX Holdings Inc. (Nasdaq: ECX), a global mobility technology provider, is teaming up with Mobileye (Nasdaq: MBLY) in building a one box solution integrating automated driving and parking features, that will enable hands-off and eyes-off self-driving on controlled-access highways. Based on the Mobileye Chauffeur™ consumer AV platform, this solution is planned to be put into mass production in the Polestar 4 electric SUV coupé.

Furthermore, ECARX and Mobileye will also collaborate on a driver-assist solution and a cockpit-driving-parking integrated solution based on the latest EyeQ™6 automotive-grade system-on-chip (SoC).

Drawing upon the technical strength of Mobileye Chauffeur™ perception and driving policy platform, ECARX will provide Polestar (Nasdaq: PSNY) with an integrated solution that supports mass production, in which ECARX will be responsible for the development of parking-related algorithms and functions, local production of hardware used in the domain controller unit, quality management and supply chain, compliance with related driving and parking regulations and data requirement, and also testing and validation of user experience features.

Mobileye Chauffeur™ adds a layer of active radar and lidar sensor to Mobileye’s class-leading computer vision perception to create two subsystems working in parallel to ensure redundancy. This feeds into a proprietary driving policy system that can be customized by the OEM for a brand-aligned driving experience, all run on the ultra-efficient EyeQ™6 SoC.

Polestar 4 is expected to become the world’s first mass-produced car to adopt Mobileye Chauffeur™ consumer AV technology. At launch, Chauffeur™ will offer hands-off and eyes-off, point-to-point autonomous driving on highways, as well as eyes-on automated driving for other environments, in identified operational design domains.

To date, ECARX’s intelligent cockpit solutions have been installed in more than 5.2 million vehicles worldwide. The company’s global R&D team has strong mass production and delivery capabilities, and rich experience in defining driver-focused products, as well as full-stack autonomous driving R&D capabilities spanning from artificial intelligence algorithms to embedded systems, and from closed-loop data to iterative system evolution. ECARX’s R&D strategy of integrated driving and parking solutions, software/hardware integration and driving/cockpit integration enables innovative mass-produced solutions.

This collaboration between ECARX and Mobileye leverages their respective advantages – mainly ECARX’s R&D capability and Mobileye’s intelligent driving technology – to realize mass production of an integrated driving-parking driver-assist solution with fast adaptation to China’s road conditions and scenarios.

Ziyu Shen, Chairman and CEO of ECARX said, “It is exciting to partner with Mobileye to jointly deliver an integrated, advanced driving-parking driver-assist solution. The mass production and delivery of eyes-off and hands-off intelligent driving solution will be a truly groundbreaking achievement in the intelligent mobility industry, empowering Polestar to present an awe-inspiring mobility experience.”

“We look forward to bringing Chauffeur™ into production through this collaboration with ECARX,” said Prof. Amnon Shashua, President and CEO of Mobileye. “China leads the world in putting advanced driving technology on the road, and through Chauffeur™ we can demonstrate the real potential for safe, affordable autonomous driving for consumers.”

Thomas Ingenlath, Polestar CEO, commented: “We are very keen to push innovation in our performance electric vehicles together with Mobileye and ECARX. We know that driving yourself is not always fun and exciting – an integration of Mobileye’s Chauffeur™ system would mean our customers could enable autonomous driving technology when they want, making all future journeys enjoyable.”

About ECARX

ECARX (Nasdaq: ECX) is a global mobility tech provider partnering with OEMs to reshape the automotive landscape as the industry transitions to an all-electric future. As OEMs develop new vehicle platforms from the ground up, ECARX is developing a full-stack solution – central computer, System-on-a-Chip (SoCs) and software to help continuously improve the in-car user experience. The Company’s products have been integrated into more than 5.2 million cars worldwide, and it continues to shape the interaction between people and vehicles by rapidly advancing the technology at the heart of smart mobility.

ECARX was founded in 2017 and today we have around 2,000 team members. The co-founders are two automotive entrepreneurs, Chairman and CEO Ziyu Shen, and Eric Li (Li Shufu), who is also the founder and chairman of Zhejiang Geely Holding Group – one of the largest automotive groups in the world, with ownership interests in international brand OEMs including Lotus, Lynk & Co, Polestar, smart and Volvo Cars.

About Mobileye

Mobileye (Nasdaq: MBLY) leads the mobility revolution with its autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in computer vision, artificial intelligence, mapping, and data analysis. Since its founding in 1999, Mobileye has pioneered such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety (RSS). These technologies are driving the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions, powering industry-leading advanced driver-assistance systems and delivering valuable intelligence to optimize mobility infrastructure. To date, more than 150 million vehicles worldwide have been built with Mobileye technology inside. In 2022 Mobileye listed as an independent company separate from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific.

Polestar plans to have a line-up of five performance EVs by 2026. Polestar 2, the electric performance fastback, launched in 2019. Polestar 3, the SUV for the electric age, launched in late 2022. Polestar 4, the SUV coupé transformed, is launching in phases through 2023 and into 2024. Polestar 5, an electric four-door GT and Polestar 6, an electric roadster, are coming soon.

The Polestar 0 project is the company’s ambitious goal of creating a truly climate-neutral production car by 2030. The research initiative also aims to create a sense of urgency to act on the climate crisis, by challenging employees, suppliers and the wider automotive industry, to drive towards zero.

Forward-Looking Statements This release contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “preliminary,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, and the markets in which we operate.

Investor Contacts:

Adam Kay, ir@ecarxgroup.com

Media Contacts:

ecarx@blueshirtgroup.com