Li Auto Establishes Innovation Lab With Over $50M
Chinese business inquiry platform Tianyancha showed on Tuesday that Ideal Innovation Lab Technology (Jiangsu) Co., Ltd. has been established on April 7. According to shareholder information, the firm is wholly owned by Leading Ideal HK Limited, an affiliated company of Li Auto, a leading Chinese electric vehicle (EV) manufacturer.
Shen Yanan has been named the legal representative of the newly founded firm, which has a registered capital of 330 million yuan ($51.8 million). Its business scope includes the manufacturing and sales of power electronic components, R&D of new material technology and internet data services. It also includes integrated circuit chip design and services, and manufacturing of terminal test equipment.
Li Auto has frequently engaged in new investments, having established a venture capital company on March 4 this year with a registered capital of 600 million yuan and a business scope limited to unlisted enterprises. According to business data inquiry platform Qichacha, the equity information shows that the firm is also indirectly wholly-owned by Leading Ideal HK Limited.
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Li Auto started to make foreign investments as early as 2017. So far, it has invested in several companies related to new energy and mobility technology. Recently, it has also partnered with NIO to subscribe shares for Sunwoda Electric Vehicle Battery Co., Ltd. (Sunwoda EVB), a wholly-owned subsidiary of the listed company Sunwoda.
The delivery volume of Li Auto reached 11,034 units in March, up 125.2% year-on-year and 31.1% quarter-on-quarter, while the sales volume also increased steadily. Its sales volume reached the top among Chinese new energy vehicle makers in February. In the first quarter of this year, a total of 31,716 vehicles were delivered by Li Auto, up 152.1% year-on-year.
