China Industry Review

 China's Ministry of Industry and Information Technology (MIIT) has officially released the draft "National Automotive Chip Standard System Construction Guide (2023 Edition)" on March 28th, seeking public opinions. The guide aims to develop at least 30 key automotive chip standards by 2025 and at least 70 by 2030. For new energy vehicles, the cost of automotive chips is second only to power batteries, making it the second most expensive core component. Although China's power battery industry has reached a globally leading position, there is still a long road ahead for domestic substitution in the automotive chip field. Current data reveals that the automotive chip market is dominated by major players such as NVIDIA and Qualcomm, particularly in the main control SoC segment. The domestic market share of automotive-grade MCUs lingers around 2%, while IGBT chips have seen the fastest progress in domestic substitution, but still accounted for less than 25% in 2021. The re