If you've been hearing about China's exports of cars a bit more than usual recently, that's because China is absolutely crushing it in the market right now. Its car companies have become a real threat for legacy car manufacturers, and the Chinese show no signs of stopping.
Modern cars, particularly electric cars, require a lot of chips to handle everything from infotainment to self-driving. Samsung's got a whole suite of products for car manufacturers, and it views China's relentless pursuit of global domination in cars as a serious business opportunity.
Samsung attends China's biggest auto exhibition for the first time
The latest industry data highlights that China's export of electric vehicles has grown by 77% over the past year, with the country shipping more than 1.2 million units. BYD has also become the world's leading seller of electric vehicles in the fourth quarter of last year.
Other Chinese companies like Nio, Hyper, LiXiang, and Zeekr are also increasing their vehicle exports, particularly to emerging markets, where consumers are typically more price conscious and would thus be receptive to aggressively priced imports from China. Even Xiaomi, a company best known for making smartphones and other consumer electronics devices, has started making electric cars.
All of these companies need advanced chips and Samsung's got a lot of them to sell. Samsung will be participating at the Beijing International Automotive Exhibition for the first time this year to seriously cater to the Chinese demand for automotive chips. The DS Division of Samsung Electronics will have a booth at the exhibition to showcase offerings from the company's Memory, System LSI, and Foundry divines.
Samsung has spent a good number of years expanding its product portfolio in the automotive segment. It introduced Exynos Auto and ISOCELL Auto brands specifically for vehicle semiconductors, and the company continues to improve and expand these offerings to remain at the forefront of the monumental change that's happening in the automotive industry right now.
