Software Market for Cars in China Accounts for 30% of All Software Products

The market value of the software products for cars in China exceeded 65 billion yuan ($9.2 billion), representing 30% of the total value of all software product markets in the country, according to a report from the Chinese Automotive Engineering Research Institute and the Chinese Economic Information Service (CEIS) under "Xinhua".

"First stage development for automotive industry is moving towards electric vehicles. It's time to move onto the second phase - intelligent technologies," said Deputy Chief Engineer of China Association of Automobile Manufacturers (CAAM), Su Hai Dun. He also mentioned that automotive software can precisely manage everything in a vehicle, including its equipment, movement, and communication capabilities.

The report also highlights achievements in domestic semiconductor production for cars by companies such as Huawei.

Automotive industry is one of the key sectors of China's economy. The total value of China’s auto manufacturing supply chain contributes to 10% of the country's GDP, according to the statement.