Xinwang Microelectronics completes a new round of financing to promote the development of domestic automotive chips

On September 20, Xinwang Microelectronics announced the completion of its C2 round and strategic financing, attracting participation from many well-known institutions including FAW Investment, Shanghai Science and Technology Investment, and Zhangjiang Science and Technology Investment. The financing will be used to deepen cooperation with automakers, promote the development and commercialization of automotive chips with high functional safety levels, and expand its automotive functional chip product line. As an innovator in the field of domestic automotive chips, Xinwang Microelectronics has nearly 50 automotive chips used by major domestic and foreign automakers, and plans to cooperate with more automotive industry chain companies under the current trend of chip localization.