SAIC Motor, NIO Capital invest in ConvenientPower Semiconductor

Beijing (Gasgoo)- ConvenientPower Semiconductor (ConvenientPower), a leading player in the field of wireless charging management chips, recently announced the successful completion of a strategic financing round, raising hundreds of millions of yuan. 

Photo credit:  ConvenientPower Semiconductor

This financing round was led by SAIC Motor's strategic investment fund and Shangqi Capital, with continued support from CICC Capital. Notably, renowned strategic institutions such as NIO Capital and PENG Capital have also joined as investors. 

The proceeds from this financing will be allocated towards the continuous research and development of ConvenientPower's cutting-edge automotive-grade power management chips and the advancement of new-generation automotive chips.

Founded in February 2016, ConvenientPower is committed to creating a comprehensive analog chip ecosystem, extending its influence from consumer electronics to the automotive industry. Notably, the company has successfully expanded from a consumer-focused analog integrated circuit (IC) platform company to a prominent comprehensive analog IC platform company. Consequently, its downstream application markets have significantly grown, encompassing not only consumer electronics but also the automotive, industrial, data, and communication sectors.

With a strong manufacturing platform, a robust quality system, an efficient research and development framework, and an extensive customer base, ConvenientPower’s portfolio has successfully shifted from a single product line of wireless charging chips to a comprehensive lineup of power management products suitable for automotive applications. This expansion has led to the integration of ConvenientPower's solutions with leading domestic and international customers, enabling breakthroughs in the automotive sector.