Ideal Automotive's Chip Subsidiary Completes 1.625 Billion Yuan Financing, Valued at 17.1 Billion Yuan

Ideal Automotive's chip subsidiary, Shanghai Mahexin Technology, has completed a Series A equity financing round of 1.625 billion yuan. Ideal Automotive contributed 1 billion yuan, while external investors contributed a total of 625 million yuan. After the financing, Ideal Automotive holds 74.01% of the shares, making it the largest shareholder. External investment institutions include Hangzhou Jingtai, BlueRun Ventures, Huaye Tiancheng Capital, and Qiji Chuangtan. Hangzhou Jingtai also received an additional investment right of 500 million yuan, bringing the company's valuation to 17.1 billion yuan, with 20% of the equity allocated for employee incentives. The funds will be used for subsequent chip research and development and commercialization, with hopes to supply externally and expand into non-automotive businesses. Ma Donghui, co-founder of Ideal Automotive, stated that Mahe chips and silicon carbide modules can be sold externally, and Ideal Automotive is developing the second generation of Mahe intelligent driving chips.

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