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Nio says Nvidia chip restrictions won’t hurt them

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Chinese electric car company Nio said it doesn’t expect U.S. restrictions on Nvidia to affect the start-up’s business operations.

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Li said Wednesday there are many companies in China with artificial intelligence training chips, and that Nio is evaluating opportunities to work with different companies.

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

Last week, automaker Geely said it won’t be affected by the new restrictions, as did autonomous driving start-ups WeRide and Pony.ai.

Read more about electric vehicles from CNBC Pro

Earlier this week, Chinese financial news site Caixin reported that He Xiaopeng, chairman of electric car start-up Xpeng, said the restrictions would bring challenges for all 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 the coming years, according to the report. Caixin cited He’s post on a personal WeChat account, which is similar to a private Facebook news feed post.

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

— CNBC’s Arjun Kharpal contributed to this report.

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