BEIJING, Aug. 5 (Xinhua) -- Chips and batteries have become the new focus in the core technology competition of China's automobile industry, bringing opportunities for independent innovation, reported Economic Information Daily Tuesday.
Thanks to increasing market demand and policy support, China's auto chip industry has ushered in rapid development after the automobile industry entered into the era of intelligence expedites.
Domestic auto companies like Beijing Automotive Group Co., Ltd, SAIC Motor Corporation Limited (600104.SH), China Changan Automobile Group, BYD Company Ltd. and Zhejiang Geely Holding Group, as well as domestic high-tech firms have all turned their eyes to auto chips.
It's estimated that by 2025, China's automotive semiconductor market will reach 120 billion yuan, and the market space is expected to reach 170 billion yuan driven by autonomous driving-related demands.
On the other hand, the competition for automotive power batteries is also intensifying.
Since the beginning of this year, more than ten Chinese power battery enterprises, including Contemporary Amperex Technology Co., Ltd. (CATL, 300750.SZ), Gotion High-tech CO., Ltd. (002074.SZ) and GEM Co., Ltd. (002340.SZ), have expanded production.
International giants like Volkswagen, Honda Motor Co. and Daimler are also speeding up their entry into China's power battery industry.
According to insiders, China has already become an important production base for auto power batteries worldwide, and the accelerated entry of international giants into China's power battery industry has contributed to the speedy integration of the industry chain as well as the industry innovation.
Meanwhile, China has kept strengthening policy support for innovative development of auto chips and power batteries. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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