# ECARX to go public via $3.82B merger with COVA Acquisition Corp.

ECARX Holdings has entered into a merger agreement with COVA Acquisition Corp. valuing ECARX at $3.82 billion pro forma equity value. The transaction includes $45 million from strategic partners Geely Holding Group, Luminar and Lotus Technology.

- Type: Acquisition
- Announced: 2022-05-26
- Where: United States
- Value: $3.82B
- Status: announced
- Products: hardware and software for connected, automated and electrified mobility
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [ECARX](https://endata.com/companies/15432.md) (target)
- [Geely Holding](https://endata.com/companies/25757.md) (investor)
- [COVA Acquisition Corp.](https://endata.com/companies/63071.md) (acquirer)
- [Luminar](https://endata.com/companies/63072.md) (investor)
- [Lotus Technology](https://endata.com/companies/63073.md) (investor)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/1837160/000110465922064920/tm2216128d1_ex99-1.htm), 2022-05-26: "ECARX has entered into a merger agreement with COVA Acquisition Corp. and upon completion of the transaction expects to be listed on Nasdaq under ticker symbol 'ECX'."
- [prnewswire.com](https://www.prnewswire.com/news-releases/ecarx-to-go-public-in-3-82-billion-merger-with-cova-acquisition-corp-accelerating-development-of-next-generation-automotive-intelligence-301555529.html), 2022-05-26: "Proceeds from the transaction will enable ECARX to accelerate its technology development and product roll-out, strategic acquisitions and investments, and international expansion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.