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Geely-backed auto tech firm ECARX raises 1.3 bln yuan from Baidu, SIG

Credit: REUTERS/JASON LEE

ECARX, a tech company backed by Chinese automaker Geely [GEELY.UL], said on Monday it has raised 1.3 billion yuan ($194.51 million) in a funding round that included Baidu and U.S. firm Susquehanna International Group.

SHANGHAI, Oct 26 (Reuters) - ECARX, a tech company backed by Chinese automaker Geely GEELY.UL, said on Monday it has raised 1.3 billion yuan ($194.51 million) in a funding round that included Baidu BIDU.O and U.S. firm Susquehanna International Group.

Hangzhou-based ECARX focuses on technology used in car chips, high-definition maps and smart vehicles. The funding will be used for autonomous driving technologies and map development, it said in a WeChat post.

($1 = 6.6834 Chinese yuan)

(Reporting by Yilei Sun and Brenda Goh; Editing by Sam Holmes)

((Y.Sun@thomsonreuters.com; +86 10 66271262; Reuters Messaging: y.sun.thomsonreuters.com@reuters.net))

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