Physix Frontier · News Briefing Card (IT Home · Oct 16, 2026)

Li Auto chip unit MaxHeart closes first round at 1.625B yuan

KEY FACTS

MaxHeart Technology, Li Auto's chip subsidiary, signed its first equity financing agreement with total subscriptions of 1.625 billion yuan.
The round was led by Hangzhou Jingtao, BlueRun Ventures, and Huaye Tiancheng, with MiraclePlus participating.
Li Auto contributed 1 billion yuan, while external investors contributed a combined 625 million yuan.
Hangzhou Jingtao received an additional subscription right to invest up to another 500 million yuan before the end of 2026.
After the financing, Li Auto is expected to hold about 74.01% and retain a controlling stake.

KEY DATA

1.625 billion yuanFirst-round total subscriptions

1 billion yuanLi Auto contribution

625 million yuanExternal investor contribution

17.1 billion yuanMaximum post-money valuation

PHYSIX OBSERVATION

A carmaker spinning out its chip subsidiary for a separate fundraise amounts to putting a price tag on in-house chip development: Li Auto keeps 74% control with 1 billion yuan while outside capital comes in to share the risk. The signal is clear - intelligent driving chips are turning from a vehicle cost line into an independently valued asset, and more carmakers may follow by splitting off their chip businesses for financing.

Source: IT Home report