SemiDrive's cumulative shipments exceeded 3 million units, helping Chinese auto brands improve their competitiveness

Driven by the trend of automobile intelligence and electrification, the competitiveness, market share and prices of Chinese auto brands continue to rise. Data show that in 2023, domestic passenger car sales will reach 26.063 million units, a year-on-year increase of 10.6%. Among them, the sales of independent brands are close to 15 million units, a year-on-year increase of 24.1%, and the market share has reached 56%, an increase of 6.1% over the previous year. Zhang Qiang, chairman of Xinchi Technology, said that Chinese smart cars have performed well in the global market, which provides a good opportunity for the development of Chinese local automotive chips. At present, Xinchi Technology has reached cooperation with 90% of the car manufacturers, with cumulative shipments exceeding 3 million pieces.