Industry insiders are invited to exchange ideas on stage at the seminar in Shanghai on Sept 24. [Photo/WeChat account of Optics Valley of China]

The Global automobile business is currently entering a transition period. Along with the rapid development of autonomous driving and intelligent connected vehicle technologies, the vehicle has been transformed from merely a transport tool to a smart mobile device, and also the third living space for people, in addition to their houses and offices.

A high-end seminar themed on smart devices was held in Shanghai by the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) on Sept 24. The meeting featured the participation of more than 100 senior executives and entrepreneurs from leading companies at home and abroad.

Zhang Yongqiang, director of the valley's administrative committee, delivered a keynote speech during the event.

Experts agreed at the meeting that from 2025 to 2030, the penetration rate of new energy vehicles or NEVs would continue to rise and that in 2030-2035, autonomous driving technologies would be much further commercialized.

Zheng Yun, a senior partner of Roland Berger – a renowned global consultancy – said that China's NEV business began around 2015 and its sales volume had exceeded 1 million and 3 million in 2018 and 2020, respectively. At this speed, the penetration rate of Chinese NEVs in the auto sector would reach 35 percent and 68 percent in 2025 and 2030, respectively, Zheng said.

OVC laid out its NEV smart mobile device industrial ecosystem some years ago and it is now home to over 2,000 leading enterprises in software, algorithms and high-precision maps. The valley is also very proficient in integrated circuits, 5G communications, intelligent displays and NEVs.

Meanwhile, the valley will focus on further extending its innovation chain by strengthening essential links in semiconductors, display panels, smart software and sensors, in order to make its new energy smart mobile device sector a 100-billion-yuan ($14.03 billion) business.