Shanghai declaration, an initiative to promote the intelligent connected vehicle (ICV) industry was made in Shanghai. The declaration was co-signed by the Ministry of Industry and Information Technology of China, Shanghai municipal government, as well as research and development institutions from Britain, the United States, the Netherlands and Japan, China Daily has reported.
The goal of the declaration is to build an emission-free, casualty-free and energy efficient intelligent transportation system. For building an intelligent transportation system different players of the ecosystem along with the regulating agencies and legislative authorities must be in sync and work in a coordinated manner and this need is giving rise to collaborations among the stakeholders in different forms.
China which is the largest automotive market in the world is trying to emerge as a leader in advanced automotive technologies like connected vehicles and autonomous vehicles. The technological advancement in the country is likely to push this growth. The Chinese government too is working on the advancement of automotive technology as part of the ‘Made in China 2025’ initiative and is coming up with favorable policies and incentives to promote growth in this sector.