Li Auto's chip subsidiary seeks Series A funding with a pre-money valuation of 15 billion CNY.

Huo Xing Cai Jing reports, according to an exclusive report by Wan Dian Auto, Li Auto’s chip subsidiary is advancing its first round of external financing, with a pre-money valuation of approximately RMB 15 billion and plans to raise several billion yuan. Business registration records show that Mach Intelligent Cores Limited was established in Hong Kong on July 14, and on August 4, it wholly established Shanghai Mach Zhi Xin Intelligent Technology Co., Ltd., with Li Auto’s CTO, Xie Yan, serving as legal representative. Several days later, it wholly established Shanghai Mach Xin Technology Co., Ltd., with Li Auto’s Co-Company Secretary, Wang Yang, as legal representative. Li Auto’s in-house chip team consists of approximately 200 members, primarily focused on AI computing architecture, chip design, and related software development, while advancing two self-developed chip projects—one for vehicle-side applications and another for cloud-side applications. Its first self-developed chip, the Mach M100, has entered mass production and is now deployed in multiple newly launched or updated models this year. Another cloud-based inference chip, also based on a dataflow architecture, is currently under development. In the first half of this year, China’s semiconductor sector raised approximately RMB 162.7 billion, with AI computing being one of the key investment focus areas. For reference, NIO’s chip subsidiary, Anhui Shenji, completed its first round of financing in February this year, raising RMB 2.257 billion and achieving a post-money valuation of nearly RMB 10 billion.