Photo taken on March 9, 2023 shows a self-driving vehicle for sightseeing in Jinji Lake scenic area of Suzhou City, Jiangsu Province. (CFP Photo)
A report on the intelligent & connected vehicle (ICV) industry development in Jiangsu was released during a meeting of industry professionals in Yangzhou City, organized by the province's Department of Industry and Information Technology and Market Supervision Administration.
The report said China's ICV industry shows strong development momentum with output value of ICV parts reaching 350 billion yuan, an average annual compound growth rate of 36.8%. It is estimated that the ICV market size will hit 2.4 trillion yuan by 2030.
In 2022, new energy vehicles accounted for 41.8% of the total vehicle production, an increase of about 22 percentage points from 2021 and significantly higher than the national average of 26.1% over the same period.
The coastal province boasts 779 ICV companies with total revenues of 145.8 billion yuan in 2022, marking a year-on-year growth of 17%. The output values of the province's ICVs and auto electronics industry have both maintained high growth rates.
In terms of research and development, companies and research institutions across the province have consistently developed new products and technologies in the fields of vehicle sensors, software and algorithms, electronic control units, terminals and chips.
For testing, cities such as Suzhou and Wuxi have introduced implementation guideline for ICV road testing and applications. Meanwhile, public roads in Nanjing, Suzhou and Wuxi have been put into use for ICV testing, which totals more than 300 kilometers and provides over 400 virtual simulation and 500 real-life testing scenarios.
In addition, Jiangsu has amassed 30,000 to 40,000 people engaged in the ICV fields, who are generally at a young age. Over 40% of them have worked in the fields for 1-3 years.
Within the province, Suzhou is home to the largest group of ICV talent, accounting for 42.78% of the total, and Nanjing hosts the largest group of professionals specializing in information interaction, accounting for 60.31% of the total.
The report also said Jiangsu's ICV industry faces new development opportunities, estimating that the pre-installation rate of intelligent driving systems in new vehicles will reach 100% by 2030.
