Chinese auto tech startup Ecarx will go public through a merger with a blank-check company in a deal that will value the combined entity at $3.82 billion, the company said on Thursday. The announcement comes when automakers are racing to develop battery-powered, software-driven vehicles. The transaction is expected to close in the fourth quarter of 2022, when Ecarx, partly co-founded by Geely’s chairman Li Shufu and backed by lidar sensor maker Luminar, will begin trading under the ticker symbol “ECX.” The company reported $436 million in revenue in 2021 with dozens of auto clients such as Geely and Mercedes-Benz. [Ecarx announcement]