Beijing, China — China has successfully established a comprehensive industrial system for its intelligent connected vehicle (ICV) sector, encompassing key technologies such as basic chips, sensors, computing platforms, and chassis control systems. Minister Jin Zhuanglong of Industry and Information Technology announced this development during the opening ceremony of the 2024 World Intelligent Connected Vehicles Conference in Beijing.
Minister Jin highlighted China’s leading position in global advancements in human-machine interaction, noting significant strides in technologies like steer-by-wire and active suspension. He emphasized that the nation’s progress in these areas is propelling the ICV industry forward, fostering innovation and competitiveness on the international stage.
The country’s ICV sector now boasts nearly 400 “little giant” firms — small- and medium-sized enterprises specializing in manufacturing, occupying niche markets, and holding cutting-edge technologies. These firms are considered the novel elites driving China’s technological advancement in the automotive industry.
Additionally, five Chinese lidar companies have ranked among the world’s top ten in sales, reflecting the country’s growing influence in this critical technology. Lidar, standing for Light Detection and Ranging, is a remote sensing method that uses light in the form of a pulsed laser to measure distances and has become essential in the development of autonomous driving systems.
Furthermore, nine automotive manufacturers in China are piloting conditionally automated driving models, signaling a significant move towards the commercialization of autonomous vehicles. This progress positions China as a key player in the global race to develop and implement intelligent connected vehicle technologies.
The Minister’s remarks underscore China’s commitment to advancing its ICV industry through technological innovation and support for specialized enterprises. As the industry continues to grow, it is expected to offer new opportunities for investors, businesses, and consumers both within China and globally.
