Geely-Linked Car Electronics Maker Eager to Shed Chinese Roots

Ecarx Holdings Inc., the Nasdaq-listed automotive electronics firm controlled by the founder of major Chinese automaker Geely, is aiming to distance itself from its the world’s second-largest economy as escalating Sino-American tensions hamper the company’s expansion in the US.

The firm, co-founded by Zhejiang Geely Holding Group Co. Chairman Li Shufu, is seeking to cut revenue derived from its Chinese operations from 80% to around 50% by 2030 as it steps up global expansion, especially in Europe, Chairman and Chief Executive Officer Shen Ziyu said in an interview in London. It plans to boost European-based staffing to 500 employees in three years and 1,000 by decade’s end, up from just 200 currently, he said.