NXP Semiconductors and China Academy of Information and Communications Technology (CAICT), a subsidiary of China’s Ministry of Industry and Information Technology (MIIT) have signed a strategic cooperation agreement to foster innovation in intelligent transportation and securely connected vehicles.
CAICT Communication Standards Research Institute Director, Wang Zhiqin, and NXP Global Senior Vice President and President of Greater China, Zheng Li, signed the agreement under the witness of MIIT Electronic Information Department Integrated Circuit Division Director, Ren Aiguang, in Shenzhen, China.
CAICT also announced that the China Ministry of Industry and Information Technology (MIIT) has granted Official Pilot Company status to NXP. CAICT was appointed by MIIT as project lead for the “Sino-German Intelligent Manufacturing Cooperation program” in 2016.
Intelligent, secure connected car technology is a significant growth and innovation driver for the automotive, communications, IC, and transportation industries. With the growth of market demands and rapid advances in technology, the development of securely connected cars has entered the fast track. It is forecast that by 2020 the market for connected cars will increase to $33.8 billion (around 220 billion RMB), and the market penetration rate will reach 67 percent by 2023, making China the largest connected vehicle market in the world.