Gasgoo Munich- Li Auto announced on October 16, 2026, that its chip subsidiary, Shanghai Mahe Xin Technology Co., Ltd. ("MHX Technology"), had signed an agreement for its first equity financing round, raising RMB 1.625 billion.
Image source: Li Auto
Key Takeaways
·The round was led by Hangzhou Jingtao, Lanchi Ventures and Huaye Tiancheng, with participation from MiraclePlus. Hangzhou Jingtao and its affiliated funds were also granted the right to subscribe for up to an additional RMB 500 million. If exercised in full, the investment would value MHX Technology at RMB 17.1 billion on a post-money basis.
·MHX Technology plans to use the financing to support chip development and commercialization, including expansion into non-automotive applications, as well as Li Auto's longer-term development in chips and domain controllers.
·Li Auto will retain a 74.01% stake in MHX Technology and continue to control the company. It plans to coordinate chip, AI model and vehicle development while using production-vehicle deployment to support further chip optimization.
·MHX Technology plans to supply products to external customers and pursue partnerships beyond the automotive sector while continuing to support Li Auto vehicles.
Technology platform
Li Auto has developed a full-stack edge AI platform through the coordinated design of algorithms, compilers, operating systems and chips, with a focus on AI inference.
Li Auto describes its internally developed Mach M100 as the world's first dynamic dataflow AI chip. It uses a 5-nanometer automotive-grade process and delivers 1,280 TOPS of computing power per chip.
A paper on the chip's architecture was accepted by the industry track of ISCA 2026. Li Auto said this made it the first automaker to have a paper accepted by that track.
The Mach M100 is now used in Li Auto's new-generation production vehicles, taking the chip from an original architecture into series-production applications.
Market expansion
By serving a broader customer base, MHX Technology intends to expand its operating scale and continue product development and iteration. The company aims to develop its chip and domain-controller operations into a second growth business alongside Li Auto's premium intelligent electric-vehicle business.
