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China: China's EV boom drives growth of domestic auto parts sector
Storyline: China's EV boom drives growth of domestic auto parts sector [Voice_over] The rapid development of China's NEV market has also increased the development of its corresponding auto parts market, with companies taking design and integration of AI to the next level. Amongst other products, this factory in Shanghai's Songjiang District has created a device that automatically adjusts a vehicle's height and suspension stiffness based on real-time road conditions with the help of cameras and sensors. [Sound_bite] Wang Shengquan, Vice President, Shanghai-based auto technology company: "Essentially, we combine the vehicle's cameras and autonomous driving modules with the air suspension system. Through road preview, we collect real-time road condition data and transmit it to the ECU controller. This allows proactive adjustments to the air springs, enabling faster and more dynamic responses." [Voice_over] Meanwhile, the country's EV market is driving innovation among parts manufacturers, with some gaining the attention of international auto brands from Germany and the U.K. [Sound_bite] Zhou Xiuzhong, General manager of sales, electronics group in Changzhou City, Jiangsu Province: "Over 85 percent of our product design, manufacturing processes, and core components are platform-shared, covering vehicles priced from 20,000 to 140,000 U.S. dollars, with the main revenue coming from automakers in the 40,000 to 80,000 dollars range." [Voice_over] Industry watchers note that while the development cycles of Chinese auto parts firms used to take one to two years, today, parts makers can roll out new products and features in just nine months, with each new vehicle model incorporating the latest technologies. [Restrictions : No access Chinese mainland]
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