ECARX Holdings has completed its purchase of the entire Flyme software business, paying 1.8bn yuan ($266m) in cash for full ownership of Hubei Qiguang Technology.
Hubei Qiguang, formed out of Geely-owned DreamSmart Group to house the business, holds all of Flyme’s critical intellectual property, plus R&D teams, engineering resources, OEM customer contracts and operational infrastructure.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal, first announced on 22 June 2026, covers Flyme Auto, an in-vehicle cockpit operating system, and Flyme OS, a cross-device operating system.
An independent valuation as of 31 May 2026 put the entity’s worth at 1.82bn yuan.
About 70% of the funding came from ten-year syndicated loans from Chinese commercial banks on market terms, with roughly 30% from internal sources.
ECARX will inject 200m yuan of capital into the entity after completion to support its operations.
It plans to run Flyme as a separate software division, which it said would preserve R&D continuity and ease the move for existing customers.
Current Flyme OS operators will keep receiving updates and retain ownership of their user data.
The broader portfolio would let global automakers engage with Ecarx at several levels of the technology stack, from stand-alone hardware or software to full-stack offerings, the company said.
It added that bringing both operating systems in-house would align its hardware and software roadmaps.
Headquartered in London, ECARX was founded in 2017 and listed on Nasdaq in 2022.
Its technology runs in more than 12 million vehicles worldwide, and it has partnerships with 18 global automakers and 28 vehicle brands.
ECARX Holdings founder and CEO Ziyu Shen said: “By bringing Flyme’s operating system, user experience, AI capabilities, and ecosystem expertise in-house, we strengthen our ability to deliver tightly optimised solutions that connect our silicon, computing platforms, and intelligent software into a unified offering.
“Owning the entire technology stack will enhance product differentiation, accelerate innovation, improve development efficiency, and create new revenue opportunities through software licensing, integration services, and connected car ecosystem monetisation.”
In June, ECARX signed a binding memorandum of business co-operation with TPK to co-develop LiDAR sensor technology.
