XPeng (XPEV) Invests in SiC Chip Supplier

InventChip Technology announced Wednesday that it has closed a strategic financing round with exclusive participation from XPeng (NYSE: XPEV). InventChip designs and manufactures Silicon carbide (SiC) chips. These chips are considered essential for high-performance electric vehicles. The funds will mainly be used for market development, R&D, general operations, and talent recruitment. No details were given of the amounts involved.

Last October, InventChip raised tens of millions of US dollars in financing led by private equity firms Lightspeed China Partners, State Development & Investment and Chongqing Xiaomi Venture Capital.

InventChip was established in Shanghai Lingang Special Area in 2017 and is committed to developing SiC devices, drives and control chips and modules. The company’s products have successively entered the industrial and automotive electronics market and are gradually shipping in larger quantities.

By Michael Elkins | [email protected]

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