By Mark Schaub,  Atticus Zhao, David Hong  King & Wood Mallesons’ Corporate & Securities group

schaub_mThe move towards self-driving cars is relentless and China as the world’s largest auto market and a leader in internet technologies wants to be at the cutting edge of this revolution.

That self-driving cars is a huge potential market seems clear. On March 3, 2017, IHS Markit, the leading automobile market intelligence firm, published its latest Advanced Driver Assistance Systems (ADAS) Applications and Sensors Report[1]. This report noted that the global ADAS market is set to explode and surpass 302 million units annually in 2022 – which would be a nearly 200% increase over the 2016 numbers. This growth is mostly driven by advances in sensors technology that can be combined to provide better automated driving and includes aftermarket ADAS solutions for existing vehicles.
Continue Reading China: ADAS to Self-driving Cars – The Journey Starts

China has issued a raft of measures aimed at moulding its auto industry to meet both the challenges posed by the global economic crisis and possibly even use the crisis to achieve long held strategic government goals. The short term goal appears to be to boost domestic consumption of cars and thereby stimulate the economy. The longer term goals have been previously enunciated in NDRC auto policy, namely consolidate the industry, build some national auto champions and build quality “green” cars. According to The New York Times, China is aiming to become a global leader in manufacturing electric cars.

Xu Ping, Partner, FDI

Continue Reading China Retools its Auto Industry to meet Global Challenges