Shenzhen is set to revolutionize the automotive electronics industry with the establishment of a cutting-edge vehicle control electronics laboratory. This initiative, spearheaded by Hangsheng Electronics, aims to break the long-standing foreign monopoly in the sector and bolster the presence of national brands. The lab will focus on developing advanced technologies for new energy vehicles, including battery control, chassis control, and engine control systems.
In a significant move to enhance its automotive electronics capabilities, Shenzhen will soon host a state-of-the-art vehicle control electronics laboratory. This development is expected to shift the dynamics of the automotive electronics market, which has been predominantly controlled by foreign entities.
Hangsheng Electronics, once a struggling company with initial sales of just one million yuan, has grown exponentially to become a leader in China's automotive electronics industry. The company's annual sales now exceed 30 billion yuan, making it a formidable player in the international market. In 2009, Hangsheng was the only local enterprise among the top ten brands in the automotive electronics market, competing against giants like Delphi, Visteon, and Valeo.
Hangsheng's success can be attributed to its relentless focus on independent innovation and research and development (R&D). Despite facing stiff competition from Japanese firms in the car audio sector, Hangsheng has managed to secure a 90% market coverage in China, supplying 18 out of the 20 domestic car manufacturers. The company's market share in car audio and entertainment systems stands at 25%.
In May of this year, Hangsheng Electronics will launch its vehicle control electronics laboratory, building on the foundation of its existing car entertainment electronics lab. This new facility will focus on developing core technologies for new energy vehicles, including battery control, chassis control, body control, and engine control systems. The goal is to establish a strong national brand presence in a market currently dominated by foreign companies.
Hangsheng has already made significant strides in the automotive electronics sector. The company has begun industrializing its TPMS (Tire Pressure Monitoring System), keyless entry systems, and body controllers. Over the past year, Hangsheng has also made considerable progress in car DVD systems. The next focus will be on body control electronics, car mobile systems, and new energy control electronics.
Hangsheng's long-term plan aims for "world-class internationalization" by 2015. The company targets an annual revenue of 10 billion yuan, production and sales of 10 million sets, and a net profit margin of 8%. This ambitious vision underscores Hangsheng's commitment to becoming a global leader in automotive electronics.
The establishment of the vehicle control electronics laboratory in Shenzhen marks a significant milestone for Hangsheng Electronics and the broader Chinese automotive electronics industry. By focusing on innovation and advanced R&D, Hangsheng aims to challenge the foreign dominance in the sector and establish a robust national brand. This initiative not only promises to enhance the technological capabilities of China's automotive industry but also positions Shenzhen as a key player in the global market.
This article is based on the latest available data and projections. For more detailed information, please refer to the sources cited.
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