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The ADAS revenue of foreign Tier 1 suppliers declines amid the pandemic
The outbreak of COVID-19 has led to the declining demand for automobiles and the temporary suspension of production in the automobile industry. In this case, the overall revenue of most Tier1 suppliers has fallen sharply as they have difficulties in business development.
For example, more than 40% of Continental s 249 production bases around the world decided in April 2020 to temporarily suspend production for several days or several weeks in order to protect employees and respond to lower demand.
Tier 1 suppliers actively promote the mass implementation of L2 autonomous driving, and L3 autonomous driving enters the market