Li Auto chip unit Mahe Xin raises CNY1.6 billion

Li Auto's chip and domain controller subsidiary Mahe Xin Technology signed a first-round equity financing agreement worth CNY 1.625 billion (about US$243.33 million). Automakers are increasingly building in-house semiconductor units.

• Mahe Xin Technology is Li Auto's chip subsidiary
• First equity round totals CNY 1.625 billion
• The deal is worth about US$243.33 million