- This brings the post-investment valuation of Nio's chip unit to nearly RMB 10 billion.
- Sources close to the transaction indicate that the industry holds a relatively positive outlook on Nio's chip project.
Nio Inc's (NYSE: NIO, HKG: 9866) chip division has raised over RMB 2 billion ($290 million) in its first funding round, with a post-investment valuation nearing RMB 10 billion, according to multiple Chinese media reports.
Institutions participating in this round of investment in Anhui Shengji Technology Co Ltd — the registered entity for Nio's chip business — include the Hefei local industry fund, Nio Capital, IDG, and an unnamed listed semiconductor company, LatePost reported on Thursday.
The report cited sources stating that the company's subsequent financing rounds have commenced.
Another domestic outlet, Leiphone, also reported on the funding and cited sources close to the deal as saying the industry holds high expectations for Nio's chip project, leading to intense investment competition.
Multiple institutions expressed high participation interest, though the road ahead remains long, the report said.
The funding move underscores Nio's efforts to balance substantial R&D expenditures with profitability goals amid fierce market competition.
Since 2021, Nio has invested heavily in developing high-end smart driving chips, aiming to rival and replace Nvidia's comparable products.
The company unveiled its Shenji NX9031 chip in December 2023. The ET9, which began deliveries in late March 2025, features two Shenji NX9031 chips. Subsequent new Nio models launched thereafter incorporate one Shenji NX9031 chip.
A single Shenji NX9031 chip delivers computational power equivalent to four mainstream smart driving chips. Previously, Nio models were equipped with four Orin X smart driving chips.
Nio founder, chairman, and CEO William Li previously disclosed that the R&D cost of the Shenji NX9031 is roughly equivalent to building 1,500 battery swap stations.
Assuming each battery swap station costs between RMB 1.5 million and RMB 2 million, the chip's R&D expenditure ranges from RMB 2.25 billion to RMB 3 billion, LatePost noted.
The introduction of external capital signals Nio's attempt to seek financial returns from this most cash-intensive business segment.
Facing cash flow pressures and striving to achieve non-GAAP profitability in 2026, Nio is actively seeking new revenue streams.
In November 2025, LatePost reported that Nio commenced external supply of Shenji NX9031 technology, granting technical licensing to an automotive chip company.
($1 = RMB 6.8406)
