China Automotive ER&D Spend Patterns
China’s automotive market is seemingly immune to the global decline in passenger cars. The total automotive R&D spend in China was close to $8 bn as of 2018 with Chinese firms accounting for 53% of the investments. ER&D market addressed by service providers in China accounts for more than $ 2 bn.There are several opportunities for service providers across the value chain with Body Engineering and Safety Restraints being the most dominant segment. The total revenue from China’s automotive market stood at $600Bn at the end of 2018.
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