Demand is growing explosively, and the consumption of automotive chips in China will reach 100 billion in 2030.

CTOnews.com, December 25 (Xinhua) recently, Zhang Yongwei, vice chairman and secretary-general of the China Electric vehicle Centenary Association, said that the demand for chips is increasing. It is expected that the intelligent penetration rate of Chinese cars will reach 70% in 2030, and the demand for chips will show an explosive growth trend. There are 300-500 chips for traditional cars, more than 1000 chips for electric smart cars, and more than 3000 chips for high-grade self-driving cars.

In addition, Zhang Yongwei also predicted that by 2030, China's automotive chip market will reach 29 billion US dollars, the number will reach 100 billion-120 billion / year, so the demand for automotive chips is increasing, and the gap is also growing.

CTOnews.com learned that the latest data released by auto industry data forecasting company Auto Forecast Solutions show that the global auto market has lost about 4.4142 million vehicles this year due to chip shortages as of December 18. Looking ahead to 2023, the agency believes that although chip shortages will continue, global car production is expected to be reduced by less than 3 million vehicles in 2023, a significant improvement from this year.