Li Auto has announced that Shanghai Mahe Xin Technology Co., Ltd. (MHX), a subsidiary of the company dedicated to its chip and domain controller business, has entered into subscription agreements for equity financing totalling RMB1.625 billion.
External investors include Hangzhou Jingtao, Lanchi Ventures, Huaye Tiancheng and MiraclePlus.
Li Auto will continue to control and consolidate MHX’s financial results following the financing.
Li Auto said the establishment of MHX Technology as a dedicated platform for the chip and domain controller business positions it to capitalise on broader industrial opportunities, particularly in non-automotive sectors, and realise enhanced economies of scale.
In addition, the financing provides MHX Technology with substantial capital to advance its R&D and commercialisation efforts.
