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Li Auto's Chip Unit MHX Technology Signs RMB 1.625 Billion Financing Deal to Expand Beyond Automotive

Li AutoAutomotive-grade ChipsFinancingArtificial IntelligenceDomain Controllers
By 42HOW Editorial

On October 16, Li Auto announced that its chip subsidiary, Shanghai Mahe Xin Technology Co., Ltd., signed a first-round equity financing agreement worth RMB 1.625 billion and will expand the external supply of chips and domain controllers to enter non-automotive markets.

This round was led by Hangzhou Jingtao, Lanchi Ventures, and Huaye Tiancheng, with participation from MiraclePlus. External investors are expected to contribute RMB 625 million, while a wholly-owned subsidiary of Li Auto will inject RMB 1 billion. Hangzhou Jingtao and its affiliated funds hold an additional subscription right of up to RMB 500 million; if fully exercised, the post-money valuation would reach approximately RMB 17.1 billion.

Li Auto already has a mass-production foundation for its MACH M100 chip. This self-developed chip features a dynamic dataflow architecture and a 5nm automotive-grade process, delivering 1,280 TOPS of compute per chip. It is currently installed in Li Auto’s next-generation mass-produced models. Research on its architecture was also accepted into the Industry Track of ISCA 2026.

Building around this chip, Li Auto has constructed an edge AI technology and product system through co-design across algorithms, compilers, operating systems, and hardware. Introducing external shareholders establishes independent market pricing for the chip business, providing financial support for subsequent R&D and commercialization.

MHX Technology will serve both Li Auto and external customers, particularly in applications outside the automotive sector. Expanding customer coverage and product application scale helps amortize R&D costs and supports continuous iteration of chips and domain controllers.

Li Auto will maintain controlling ownership, continuing the synergy between chip development, AI models, operating systems, and vehicle engineering. It aims to drive optimization of chip products through real-world applications in mass-produced vehicles.