Nio says Nvidia chip restrictions won’t hurt them

Chinese electric car company Nio said it does not expect U.S. restrictions on Nvidia to affect the startup’s business operations.

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Nio says Nvidia chip restrictions won’t hurt them

Li said on Wednesday that there are many companies in China with training chips for artificial intelligence, and that Nio is considering the possibility of working with different companies.

But he said the US restrictions would not affect Nio’s long-term strategy.

Last week, carmaker Geely said it would not be affected by the new restrictions, as did autonomous driving startups WeRide and

Read more about electric vehicles from CNBC Pro

Earlier this week, Chinese financial website Caixin reported that He Xiaopeng, chairman of electric car startup Xpeng, said the restrictions would pose challenges to any autonomous driving algorithm training on cloud computing platforms.

But he said the company has bought enough of the high-tech products to meet demand for years to come, according to the report. Caixin cited He’s post on a personal WeChat account, which is similar to a private Facebook news post.

Xpeng did not immediately respond to a CNBC request for comment.

— CNBC’s Arjun Kharpal contributed to this report.

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