On November 19, according to the “Science Innovation Board Daily” news, BYD Group Chairman and President Wang Chuanfu said that the demand for semiconductors for electric vehicles has increased by 5-10 times compared with traditional vehicles.

Wang Chuanfu said that the electrification of automobiles has brought about major changes unseen in a century, and the industrial supply chain system has been restructured.

“In the field of semiconductors, the demand for semiconductors in electric vehicles has increased by 5-10 times compared with the demand for semiconductors in traditional vehicles. However, due to the lack of cores, there are about 7 million electric vehicles in the world without production. Electric vehicles are the first half, smart Cars are in the second half, and smart cars have greater demand for semiconductors.”

In June of this year, at the 2021 China Automotive Chongqing Forum, BYD Chairman Wang Chuanfu stated that Chinese auto brands have fully surpassed joint venture brands in the technical aspects of new energy vehicles. Development, the market share is expected to further increase to 60%.

Wang Chuanfu believes that from the perspective of environmental and resource conditions at home and abroad, it is a general trend for new energy vehicles to replace traditional fuel vehicles.

He predicts that in 2030, the penetration rate of new energy vehicles in the Chinese market is expected to reach 70%, and the market share of Chinese auto brands is expected to reach 60%.

Wang Chuanfu also reminded that the auto industry will also be polarized in the future. To become a “survivor” you must have three qualities:

“Core technology, precise strategic direction and rapid decision-making may give enterprises a little more chance of survival. If they do not possess these three qualities, the probability of being eliminated is greater.”