Li Auto secures equity financing for chip business
Robert Way/iStock Editorial via Getty Images
Li Auto (LI) said its chip and domain controller subsidiary, MHX Technology, has secured RMB1.625B ($242.8M) in equity financing.
The company, through a wholly-owned subsidiary, and external investors including Hangzhou Jingtao, Lanchi Ventures, Huaye Tiancheng, and MiraclePlus will invest RMB1B and RMB625M, respectively.
Hangzhou Jingtao has also received a subscription right to invest up to an additional RMB500M by December 31, 2026.
Li Auto will retain control of MHX Technology and continue consolidating its financial results following the financing. Assuming full utilization of both incentive plans and full exercise of the Hangzhou Jingtao subscription right, the company, the investors, and certain entities to administer MHX Technology’s share incentive plans expect to hold approximately 74.01%, 6.58%, and 19.41% equity interest in MHX Technology, respectively.
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