The market for vehicle software in China has reached over 8.3 billion € (65 billion yuan), making up 30% of the nation’s overall software industry, as per a recent report.
This report, focused on advancements in China’s automotive industry, was collaboratively released by the China Automotive Engineering Research Institute and China Economic Information Service during a forum on automotive innovation in Chongqing.
Xu Haidong, deputy chief engineer of the China Association of Automobile Manufacturers, noted that the car industry’s first phase centered around electrification, but it is now shifting towards intelligent technologies. Key areas of focus include software, operating systems, and vehicle chips, which allow for comprehensive vehicle management, including features like driving systems and communication.
Additionally, the report highlighted a growing trend in the domestic production of automotive chips, with companies like Huawei making significant strides in this area. The localization of power semiconductors has increased to between 15% and 20%.
The automotive sector remains a cornerstone of China’s economy, contributing 10% to the nation’s GDP through its extensive industrial chain, according to the findings.