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Chips a big hurdle for industry to overcome By Zhang Dandan | China Daily | Updated: 2020-12-14 09:09 Share CLOSE A staff member works on producing auto chips at a plant of a chip maker based in Chizhou, East China s Anhui province. [Photo by sheng Wenpeng/for China Daily]
Digital components to play a more important role in overall automotive production in future
Chinese companies should get prepared for the rise in chip demand as cars become smarter, said analysts, after some carmakers experience pandemic-caused chip shortages. It (the shortage of chips for car electronics) is a historical problem, as China relied on imported chips from Europe, the United States, Malaysia, Japan and South Korea, said Yale Zhang, managing director of Shanghai-based consultancy firm Automotive Foresight.
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The total valuation of China’s top 500 quasi unicorns in 2020 is RMB944.518 billion yuan
According to a new report New Power of Science and Innovation Enterprises: China’s Quasi Unicorn 500 Power Report (2020) , the total valuation of China’s top 500 quasi unicorns, defined as private companies valued at RMB200 million to RMB7 billion) in 2020 is RMB944.518 billion yuan, with an average valuation of RMB1.889 billion yuan.
It is estimated that the total valuation of China’s top 500 quasi unicorns is expected to exceed RMB2 trillion yuan in 2025. These companies are those valued at less than US$1 billion but over US$30 million.
What encourages China local automakers to roll out premium brands?
Monika From Gasgoo
| December 11 , 2020
Shanghai (Gasgoo)- In November, several major Chinese indigenous auto brands made significant headway in going upmarket.
Last month, SAIC Motor launched Zhiji Motor, a high-end smart electric vehicle (EV) brand it will jointly develop with Shanghai s Pudong New Area and e-commerce giant Alibaba Group.
The project is expected to see 10 billion yuan ($1.521 billion) worth of investment. It will focus on product and technology innovation, with a brand-new production and marketing model that seeks to reconstruct the traditional automotive industry and break the boundaries between users and enterprises.