China's Automotive Semiconductor Market Surges with Domestic Leadership and Foreign Investment, Government Support

China's automotive semiconductor market is booming, driven by increased sales of autonomous and electric vehicles. In 2024, exports reached $419.15 billion, up from $280.81 billion in 2020 with a CAGR of 8.9%. Domestic players like SMIC and Huawei's HiSilicon lead the market, while international firms like Intel and Samsung are expanding through joint ventures and new fabrication plants. The Chinese government supports the market with investments and subsidies. Memory chips are the second-largest segment in the market, driven by demand for data storage and processing in advanced automotive technologies.