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Li Auto's chip subsidiary seeks first external funding at $2.1B valuation
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Li Auto's chip subsidiary is advancing its first round of external financing, with a pre-investment valuation of approximately 15 billion yuan (about $2.1 billion) and plans to raise several billion yuan. Corporate registration records show that a company named Mach Intelligent Cores Limited (Mach Hong Kong) was established in Hong Kong on July 14. On August 4, Mach Hong Kong's wholly-owned subsidiary, Shanghai Mahe Zhixin Intelligent Technology Co., Ltd., was founded, with Li Auto CTO Xie Yan as its legal representative. Days later, Shanghai Mahe Zhixin established another wholly-owned subsidiary, Shanghai Mahe Xin Technology Co., Ltd., with Li Auto's joint company secretary Wang Yang as legal representative. According to the report, Li Auto's in-house chip team has about 200 people, primarily working on AI computing architecture, chip design, and related software development. The company is simultaneously advancing both vehicle-side and cloud-side self-developed chip projects. An employee told the outlet that Li Auto's HR department has begun discussing adjustments to labor relations with chip department staff.
Source report
Ideal's chip subsidiary is advancing its first external funding round, with a pre-investment valuation of approximately 15 billion yuan and plans to raise several billion yuan.
According to business registration records, a company named Mach Intelligent Cores Limited ("Mach Hong Kong") was established in Hong Kong on July 14. On August 4, Shanghai Mach Intelligent Core Technology Co., Ltd., wholly owned by Mach Hong Kong, was founded, with Ideal CTO Xie Yan serving as its legal representative. Several days later, Shanghai Mach Intelligent Core established Shanghai Mach Core Technology Co., Ltd. as a wholly owned subsidiary, with Ideal's joint company secretary Wang Yang serving as the legal representative.
Sources indicate that Ideal's in-house chip development team consists of approximately 200 people, primarily focused on AI computing architecture, chip design, and related software development. The company is currently advancing two self-developed chip projects: one for vehicle-side applications and another for cloud-side applications. According to an employee, Ideal's human resources department has communicated with chip division staff regarding adjustments to their labor relations.
(Source: LatePost Auto)
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Li Auto chip unit seeks first external funding at $2.1 billion valuation