COVAW

Cova Acquisition Corp.

A blank-check company, Cova Acquisition Corp. raised money through an IPO purely so it could buy or merge with another business. In December 2022 it found its target, merging with ECARX Holdings, a global maker of the "smart cockpit" technology inside modern cars — the digital dashboards, touchscreens and voice systems that automakers build their vehicles around. ECARX was co-founded in 2017 by Ziyu Shen and Li Shufu, the man behind China's Geely car group; after the merger the combined company kept the ECARX name and listed on Nasdaq under the ticker "ECX."