05:49 PM EST, 11/18/2024 (MT Newswires) -- Ecarx ( ECX ) said Monday it agreed to a components procurement, and research and development services deal with Geely Automobile, Zhejiang HUANFU and Hangzhou Langge.

Under the agreement, Geely will purchase automobile components and R&D services from Ecarx ( ECX ), Zhejiang HUANFU and Hangzhou Langge, for three years ending Dec. 31, 2027.

Ecarx ( ECX ) said the agreement has aggregated annual caps of 6.39 billion renminbi ($883 million), 6.43 billion renminbi and 6.49 billion renminbi for 2025, 2026 and 2027, respectively.

The company shares were up 5.6% in recent after-hours activity.