NIO's Chip Subsidiary Shenji Secures Over 2.2 Billion Yuan Investment to Expand R&D
NIO's chip subsidiary, Anhui Shenji Technology, has finalized its first external equity financing round, raising over 2.2 billion yuan. This investment values Shenji at nearly 10 billion yuan and will primarily fund advanced chip R&D and commercial expansion, enhancing NIO's focus on autonomous driving technologies. Shenji, the first Chinese firm to develop a 5nm automotive-grade chip, plans to diversify its product offerings and pursue external customers, particularly in robotics and artificial intelligence sectors.
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NIO's chip subsidiary, Anhui Shenji Technology, has secured over 2.2 billion yuan in its first external equity financing round, valuing the company at nearly 10 billion yuan. Proceeds will support advanced chip research and development, focusing on autonomous driving and intelligent technologies.
Shenji has produced over 150,000 units of its 5nm NX9031 chip, which offers four times the computing power of conventional chips. With new capital, Shenji aims to expand its product portfolio and attract external customers, particularly in fields such as robotics and AI. NIO retains a 62.7% ownership in Shenji post-investment.
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