Nio says Nvidia chip restrictions won’t hurt them

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

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

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

Last week car manufacturer Geely said so will not be affected by the new restrictions, as do self-driving start-ups WeRide and

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Earlier this week, the Chinese financial news site Caixin reported that He Xiaopeng, president of the electric car start-up Xpengsaid the restrictions would pose challenges for all self-driving algorithm training on cloud computing platforms.

But he said the company has purchased enough 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 post on the Facebook News Feed.

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

– CNBC’s Arjun Kharpal contributed to this report.

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