【英文】汇丰报告：中国汽车芯片（68页）

We believe the automobile industry will join smartphones and PCs as one of the key growth  drivers of the semiconductor industry in the coming decades, along with high-performance  computing, artificial intelligence (AI), and the Internet of Things (IoT). The reason is simple.  Everything from advanced levels of autonomous driving to in-vehicle infotainment and, of  course, the electric motors need increasingly sophisticated semiconductors. The average number of semiconductors in cars has already doubled over the past decade and  we expect that number to accelerate in the coming years. Two of the biggest areas seeing  growth in content value, in terms of electronics, are electric vehicles (xEV ‒ a generic term for  EVs, such as hybrid electric vehicles (HEVs), PHEV and fuel-cell electric vehicles) and  advanced driver-assistance systems (ADASs). We expect the average silicon content value per  vehicle to double from cUSD530 in 2021 to over USD1,000 in 2028e; 

for a high-end smart EV, it  could be over USD3,000. All this is, of course, great news for China, which has the world’s  largest automobile market in terms of annual car sales, including EV vehicles, which have a  higher content value in terms of electronics.However, as we show in this report, it isn’t all just about new features and applications being  added to cars. We also delve deep into a car’s internal electronic architecture and show how it  needs to evolve to keep up with the demands of the industry. This will bring about increasing  demand for high-computing power chips, as well as high-speed interconnections, such as Ethernet. We also show how components like wire harnesses – which represent 50% of the  labour costs during an automobile’s assembly and can reach as long as 4km – are being  redesigned as well. Meanwhile, new semiconductor materials, such as silicon carbide (SiC),  offer many advantages and are set to create new addressable markets for companies involved  in the EV supply chain.