Package plans to support automotive industry

The Ji Yue AI automotive robot is recently launched in the East Lake High-tech Development Zone. [Photo/WeChat account of Optics Valley of China]

The East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) rolled out package plans targeting the local automotive industry on Nov 7, aiming to develop a nationwide influential new energy and intelligent connected vehicle industrial cluster.

The plans involve the Cooperative Vehicle Infrastructure System (CVIS) infrastructure construction and a top-down design, enterprise cultivation and related facilities for the auto sector.

By 2025, OVC enterprises are expected to tackle a dozen technological bottlenecks in auto chips, software and intelligent cockpits, gather at least 100 core automotive supporting companies, and set up an intelligent connected vehicle (ICV) testing ecosystem over 800 kilometers long.

The 12 policies to support the development of new energy and intelligent connected vehicles were released, encouraging electronic information products made in the valley to be applied in cars. Such product providers will receive a maximum of 20 million yuan ($2.79 million) in awards.

Corporate headquarters on the automotive supply chain agreeing to set up operations in the valley will be granted up to 200 million yuan in financial support, and major projects will be subsidized at 100 million yuan for their fixed asset investment. State-level ICV manufacturing innovation centers will also receive the same amount in subsidies in the valley.

In addition, the government encourages the development of intelligent driving innovation testing scenarios in OVC, and such projects can receive up to 50 million yuan in support each.