CHJ Automotive
车和家
CHJ Automotive (车和家) is a Chinese smart electric vehicle company founded by serial entrepreneur Xiang Li in 2015, originally known as 车和家 before rebranding to Li Auto (理想汽车) . Xiang Li serves as founder and CEO . The company launched its first production vehicle, the Li ONE, an extended-range electric SUV, in April 2019 . Early on, CHJ Automotive built partnerships with DiDi for shared mobility and a joint venture , and established supply relationships with Bosch, CATL, Valeo, and others . Source Code Capital was among its earliest institutional investors, leading the A round and continuing to invest across multiple rounds . In a more recent milestone, Li Auto became the first Chinese new energy vehicle maker to surpass 100 billion yuan in annual revenue, as reported in March 2025 .
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Coverage
Source Code Capital portfolio company Li Auto goes public, opening a new chapter for Li Auto
The power of the Source Code Capital ecosystem is like the range extender in the Li Auto ONE — it gives Li Auto a vigorous boost of sustained momentum.
Li Auto Meets Reality: "Li ONE" Opens for Pre-Orders
Electric for city driving, gas for long hauls — 800 km of pure-electric range.
Source Code Capital Closes $570 Million New Fund
Create lasting, real value
Yi Cao of Source Code Capital Named to 2019 Forbes Midas List
Create Lasting, Real Value
Source Code Capital Wins Five Awards Including Zero2IPO's 2018 Top 50 China VC Firms
Create Lasting, Real Value
Source Code Capital and Portfolio Companies Win Multiple Awards at 36Kr's 2018 "King of New Economy"
The King of the New Economy — let us see the future.
Niu Technologies IPO Lands on Nasdaq; 3 Companies Close Funding Rounds; Code Brain Issue 8 Mines India | Code Brain Newsletter · October
【Source Code Capital Newsletter】Here we record the small steps forward taken by our team members, share the joy of growth, and look forward to an even brighter future.
Meituan IPO on Hong Kong Exchanges and Clearing Limited; 4 Companies Complete Funding Rounds; 8 Companies Win 12 Awards | Source Code Capital Monthly · September
**Source Code Capital Chronicles** — recording our teammates' step-by-step progress, sharing the joy of growth, and looking toward an even brighter future.
Source Code Capital portfolio company Yijiupi raises $200 million in Series D funding, co-led by Meituan and Tencent, with existing investor Source Code Capital continuing to increase its stake
Yijiupi (supply chain/retail terminals) + Tencent (WeChat Pay/Mini Programs) + Meituan (in-store/on-demand delivery)
4 Companies Close Funding Rounds, 7 Firms Undergo Strategic Upgrades: Code Brain Issue 7 Breaks Down WeChat Ecosystem and Mini Program User Acquisition | CodeHui Journal · August
【Ma Hui Journal】A place to record the small steps forward of our community members, share the joy of growth, and look toward an even brighter future.
Meituan Files for IPO, Three Companies Close Funding Rounds, Code Brain's Sixth Session Visits ByteDance | Ma Hui Journal · June
【Source Code Capital Chronicle】A place to record our teammates' small steps forward, share the joy of growth, and look toward an even brighter future.
Six Companies Upgrade Strategies, Meituan's Xiaoxian Fresh Expands Into Offline Grocery Retail | Source Code Capital Monthly · May
【Source Code Capital Chronicle】A record of our team's small but meaningful steps forward, celebrating growth, and looking toward an even brighter future.
5 Companies Raise Funding, Several Make China's Top 100 Unicorns List | Code Meet Journal · March
【Source Code Capital Chronicle】A place to record the small steps forward of our team members, share the joy of growth, and look toward an even brighter future.
CHJ Automotive Announces Completion of 3 Billion Yuan Series B Funding Round; Existing Shareholder Source Code Capital Continues to Increase Stake, Bullish on Mobility 3.0 Era
On the era of Auto 3.0, Xiang Li believes its arrival is accelerating.
Two Acquisitions Completed, Six Companies Strategically Upgraded: Lianjia Pushes Into Franchise New Track | Code Club Magazine · February
【Ma Hui Journal】A place to record the small steps forward, share the joy of growth, and look ahead to an even brighter future.
Ma Hui: Entrepreneurs' 2017 and 2018
The Founder's New Year's Intellectual Marathon
Source Code Capital 2017: The Year of Establishing Our Footing
Never Settle
ByteDance Named World's Strongest AI Startup by CB Insights, Six Companies Announce Business Upgrades | Source Code Capital Briefing · December
【Source Code Capital Journal】Here we record our teammates' step-by-step progress, share the joy of growth, and look forward to an even brighter future.
3 Companies Secure Additional Funding, 1 Lists on NYSE, 6 B2B Firms Win Multiple Awards | Source Code Capital Monthly · October
**Ma Hui Journal:** A place to record the small steps forward of our community members, share in the joy of growth, and look toward an even brighter future.
Four Global Unicorns Make the List, One Files for IPO, Two Raise New Funding | Ma Hui Monthly · September
**Source Code Capital Chronicle** — documenting the small steps of progress among our community, sharing the joy of growth, and looking forward to an even brighter future.
Source Code Capital Wins Three Awards Including Top Investment Institution and Investor in China's New Finance Sector
Leading new-finance companies include: Qudian, Yongqianbao, INK Group, Suishou, Nongfenqi, Cijinrong, and Ether Capital.
Ma Hui Ecosystem in August: Funding, Upgrades, and Honors | Ma Hui Chronicle
**Source Code Capital Chronicle**: A place to record our team's small steps forward, share the joy of growth, and look toward an even brighter future.
Targeting Unicorns in the Consumer Upgrade Wave | Source Code Capital Insights
"Consumption upgrade" has become a sustained investment theme commanding capital markets' attention. How do we understand the underlying patterns behind this phenomenon, and how do we identify great consumer companies? Source Code Capital presents the third installment of its exclusive *Source Code Capital Internal Reference* series, based on its analysis and research.
Source Code Capital Announces Successful Close of Fund III to Help Tech Companies Create Lasting, Real Value
Source Code Capital founder Yi Cao announced at today's "Ma Hui" opening ceremony that the firm has completed the final closing of its third USD fund at $260 million and the first closing of its third RMB fund at 1.5 billion yuan.
Hongjiang Zhang Joins Source Code Capital as Venture Partner
Source Code Capital announced today that Hongjiang Zhang, former CTO of Microsoft Asia-Pacific R&D Group, former president of Microsoft Asia Engineering Institute, and former CEO of Kingsoft, has joined the firm as a Venture Partner.
Source Code Capital was ranked among China's Top 50 Best Venture Capital Firms, Top 20 Best Foreign Venture Capital Firms, and Top 10 Best Investment Firms in Tech Finance for 2016.
Source Code Capital ranked 50th on ChinaVenture's 2016 "China's Top 100 Best Venture Capital Institutions" list and 20th on the "China's Top 50 Best Foreign Venture Capital Institutions" list, and was named one of the top ten best investment institutions in China's tech finance industry for 2016.
Cijinrong Announces Completion of 65 Million Yuan Series A Funding Round Led by Source Code Capital
Cijinrong has raised RMB 65 million in its Series A funding round, led by Source Code Capital, with Matrix Partners China and Yunqi Capital — both investors from its angel round — participating. The proceeds will be used primarily for team expansion, employee training, and product and technology refinement.
Yi Cao: Inclusive Finance Enters an Era Where "Internet Plus" and "AI Plus" Work in Tandem
"New finance" is an even bigger opportunity than social media, search, e-commerce, O2O, and what came before.
Yi Cao of Source Code Capital Named Cyzone's 2016 China Angel Investor of the Year
Yi Cao emphasized that great companies and outstanding investors succeed by capturing the convergence of three peaks: "the right timing, the right place, and the right people."
World Internet Conference Opens; Source Code Capital Named New Investor of the Year
Source Code Capital was named to the "Top 30 Emerging Investment Firms of 2016" list in Wuzhen.
Source Code Capital Launches 2017 Campus Recruitment
On November 3, we'll be waiting for you at Tsinghua University's PBC School of Finance.
Yi Cao: "Internet Plus" Has Run Its Course — The Next Waves Are "Intelligence Plus" and "Global Plus"
The "Internet Plus" initiative is entering its final handover phase.
Yi Cao Named to ChinaVenture-FT China Top 100 Investors of the Year 2016
On August 15, 2016, ChinaVenture held its "2016 China Investment Annual Conference" in Shenzhen, where it also released the "ChinaVenture 2016 Best Chinese Investors" list.
Yi Cao of Source Code Capital topped Cyzone's "40 Under 40 Investors" list.
On May 11, 2016, Cyzone released its "40 Under 40 Investors" list, with 32-year-old Yi Cao of Source Code Capital becoming the youngest person ever to top the ranking.
"Ma Hui 2016": Xiang Li on CHJ Automotive for the First Time — Reshaping Urban Mobility
On the second day of the Ma Hui event, Source Code Capital LP Xiang Li shared for the first time his new entrepreneurial venture: he's building cars. From R&D and manufacturing to sales and service networks, Li is redefining the future of the auto industry.
"2016 Source Code Capital Summit" — Yiming Zhang: Why I Don't Agree With Controlling Headcount Costs
From April 21 to 23, 2016, the Source Code Capital "Ma Hui" community gathered at Gubei Water Town — a "Jiangnan-style waterside town" at the foot of the Great Wall. At the event, ByteDance CEO Yiming Zhang shared his insights on the talent challenges facing growing companies, covering recruitment and human capital management in comprehensive detail.
