Li Auto chip unit secures RMB 1.625 billion in equity financing

Li Auto is arranging RMB 1.625 billion in equity financing for its chip and domain-controller unit, Shanghai Mahe Xin Technology Co., Ltd. (MHX Technology). Li Auto plans to provide RMB 1 billion of the funding through a wholly owned subsidiary, while Hangzhou Jingtao, Lanchi Ventures, Huaye Tiancheng, and MiraclePlus will provide the remaining RMB 625 million.

If the additional investment right held by Hangzhou Jingtao is fully exercised by the end of 2026, the total investment could reach RMB 2.125 billion, potentially bringing the post-money valuation of MHX Technology to RMB 17.1 billion. Upon completion, Li Auto is expected to maintain control with a 74.01% stake.

The financing is intended to support chip research, development, and commercialization. Li Auto’s MACH M100 chip, which utilizes 5-nanometer technology and provides 1,280 TOPS of computing power, entered mass production and vehicle deployment in the first half of 2026. The chip is currently being deployed in models such as the Li L9 and L8.