Li Auto is opening its chip business to outside money for the first time. The Chinese automaker announced that its chip and domain controller unit, Shanghai Mahe Xin Technology, will raise 1.625 billion yuan – roughly $243M – in its debut equity financing.
Li Auto itself is committing 1 billion yuan ($149.5M) of that. The remaining 625 million yuan ($93.4M) comes from external investors led by Lanchi Ventures, previously BlueRun Ventures China, alongside HyT Capital and a vehicle under iMPC, formerly Matrix Partners China. MiraclePlus also participated.
The follow-on option
Under the agreements, iMPC-controlled Hangzhou Jingtao holds a one-off right to invest up to a further 500 million yuan ($74.7M) on the same pricing terms – a structure that gives existing backers room to deepen exposure before any later round sets a new price.
Why automakers want their own silicon
MHX Technology covers chips and domain controllers, the hardware that consolidates the electronic control units automakers have historically bought from tier-one suppliers. Vertical integration lets carmakers tune silicon to their own software stack and reduce dependence on external vendors amid trade restrictions.
Chinese EV makers have moved quickly in this direction, with rivals also opening engineering platforms to partners. The carve-out gives MHX its own balance sheet and outside validation while keeping Li Auto as the anchor investor and largest customer.
