In recent years, under the new requirements of "Made in China 2025" and the strategy of building a strong automotive country, automotive components will play a more crucial role in building an automotive technology innovation system, promoting the transformation and upgrading of the automotive industry, and promoting sustainable development.

(1) China's automotive parts industry is rapidly growing

In recent years, with the rapid development of China's automobile industry, the increase in automobile ownership, and the expansion of the automobile parts import market, China's automobile parts industry has rapidly grown, and China has become an important part of the global production and supply system of automobiles and automobile parts.

(2) High quality component enterprises welcome the development opportunity of "deep domestic substitution"

In recent years, China's automotive parts enterprises have continuously improved their market competitiveness through independent research and development technology accumulation, deep cooperation with multinational automotive parts manufacturers, and other means. Currently, some high-quality parts enterprises have independent supporting capabilities in the basic parts field and have gradually broken the monopoly position of foreign enterprises in the core parts field. Domestic high-quality parts enterprises, represented by Shanghai Automotive Air Conditioning Parts Co., Ltd., rely on cost advantages and supporting design capabilities to transition from domestic substitution to global supply, and have become internationally competitive manufacturers.

In the 2021 Global Automotive Parts Suppliers Top 100 list released by American Automotive News in July 2021, 7 Chinese companies made it to the list. In the 2022 Global Parts Suppliers Top 100 list released by American Automotive News, 10 Chinese companies made it to the top 100, marking a period of rapid development for Chinese automotive parts enterprises.