11 Best Penny Stocks to Invest in Under $1

2. Ecarx Holdings Inc. (NASDAQ:ECX)

Share Price as of April 10: $0.89

Number of Hedge Fund Holders: 19

Ecarx Holdings Inc. (NASDAQ:ECX) develops a full-stack automotive computing platform to shape the interaction between people and cars by rapidly advancing the technology of smart mobility. It offers SoCs, central computing platforms, operating systems, and software. It recently entered into a strategic partnership agreement with Black Sesame Technologies.

In Q4 2024, the company made RMB 1.5 billion in sales of goods revenue, which was a 16% increase year-over-year due to the strong demand for its Antora series and Makalu computing platforms. These accounted for ~29% of the total sales of goods revenue. The Antora series, particularly the Antora 1000, is a key product for the company. By the end of 2024, the company had shipped ~500,000 Antora series units.

This number is expected to cross 1 million units in 2025. This platform offers automakers a cost-effective way to integrate digital cockpit and driving functionalities into a single board. The Antora 1000 is deployed in many Geely models, such as the Galaxy EX5. It is also used in the Hongqi Tiangong 05, which highlights its adaptability across different car manufacturers.