NIO's chip subsidiary secures over RMB 2.2 billion in funding, valued at nearly RMB 10 billion post-investment

On February 26, NIO announced that its chip subsidiary, Anhui Shenji Technology Co., Ltd., has completed its first round of equity financing, raising over RMB 2.2 billion and achieving a post-money valuation of nearly RMB 10 billion. This funding round was jointly led by Hefei State-owned Capital Investment Group and IDG Capital. NIO began assembling an in-house chip development team in 2021. Bai Jian, head of the business unit, previously held hardware R&D roles at OPPO and Xiaomi. In October 2023, NIO achieved mass production of its first self-developed LiDAR main control chip, marking its official entry into the semiconductor industry. This financing round not only reflects capital markets’ recognition of NIO’s strategic technology investments but also underscores the urgent demand within the new energy vehicle sector for high-performance, self-developed chips. By advancing its in-house chip capabilities, NIO aims to further enhance the performance of its intelligent driving systems and overall vehicle competitiveness, strengthening its technological edge in an intensely competitive market.