Xinlian Power has completed a Series C of nearly $301 million led by a China Mobile investment fund, with server maker Inspur among the backers as the automotive power-chip supplier expands into AI-server power systems. China Securities Journal reported the company's November 2 announcement.
The Chinese company, controlled by Shanghai-listed United Nova Technology, designs and manufactures silicon carbide and gallium nitride power chips and packages them into modules for electric vehicles and energy systems. China Fund reported a valuation of roughly $2 billion following the financing.
Xinlian is extending a model in which customers help define products before becoming shareholders. China Fund reported that some Series C investors were already collaborating on chip development or project incubation. An earlier example, described by ChinaVenture in a report carried by 36kr, is a module jointly developed with Xpeng that combines silicon and silicon carbide devices to balance cost and efficiency. It was used in the Xpeng X9.
The expansion comes alongside rapid sales growth. ChinaVenture reported first-half 2026 revenue of approximately $178 million, up about 106% from a year earlier. Figures are in US dollars, converted at November 2, 2026 reference rates.
Xinlian introduced a 3,300-volt silicon carbide switch in June, according to an announcement carried by 36kr. China Fund's November 2 report said the device, designed for high-voltage equipment such as solid-state transformers, had been sent to customers for validation. Products rated at 6,500 volts and above remained in development.