According to a research report released by East Money Information, the car-road-cloud integration project of Wuhan's intelligent connected new energy vehicles has been approved by the Wuhan Development and Reform Commission with a record amount of about 17 billion yuan, and is expected to start in June. The report states that the development of car-road-cloud integration of intelligent connected vehicles is accelerating, and there is a wide market space for companies that have the leading intelligent driving technology at the L3 level and can benefit from it. It recommends paying attention to core intelligent component targets in addition to complete vehicles with the pilot qualification of intelligent driving functions.

Related targets include Chongqing Changan Automobile, BYD Company Limited, NIO Inc, Xpeng, SAIC Motor Corporation, Yutong Bus Co.,ltd., etc., as well as companies such as Ningbo Joyson Electronic Corp., Bethel automotive safety systems, keboda technology, Shanghai Baolong Automotive Corporation, etc.

The main viewpoints of East Money Information are as follows:

The approval of the Wuhan “car-road-cloud” project will start, and the development of car-road collaboration is recommended.

On June 14th, the Online Approval and Supervision Platform for Investment Projects in Hubei Province disclosed that the car-road-cloud integration major demonstration project of intelligent connected new energy vehicles in Wuhan has been approved by the Wuhan Development and Reform Commission with a record amount of about 17 billion yuan, and is expected to start in June. The project unit is a state-owned enterprise Wuhan CheWang ZhiLian Testing Operation Management Co.,Ltd. The project will build a unified intelligent connected vehicle service platform for the city, 15,000 intelligent parking spaces, 5.578 km of intelligent roads (Economic Development Zone), 160,000 square meters of intelligent connected vehicle industrial R&D base (East Lake High-Tech Zone), a vehicle regulation-level chip industry park, and a self-driving car industry park to promote a significant improvement in the coverage rate of urban intelligent roads and the installation rate of vehicle-mounted terminals.

With the support of policies, the integration project of intelligent connected vehicles and the cloud platform is accelerating its implementation.

In January 2024, the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Transport and other five ministries issued a notice on the pilot application of the car-road-cloud integration of intelligent connected vehicles from 2024 to 2026, and categorized the measures to gradually improve the vehicle-networking rate at the car end. The C-V2X vehicle terminal and the vehicle digital identity certificate carrier are installed on all running pilot vehicles. The transformation of C-V2X vehicle-mounted terminals is encouraged for public domain stock vehicles such as city buses, official vehicles, and taxis. The installation rate of new car-mounted terminals reaches 50%, and support vehicle-mounted terminals are interconnected with city-level platforms. On June 4, 2024, the Ministry of Industry and Information Technology proposed that the four departments are carrying out pilot tests for intelligent connected vehicle access and on-road traffic in an orderly manner, and has determined nine consortia to enter the pilot phase. In late May to early June of this year, the car-road-cloud integration application demonstration projects of intelligent connected new energy vehicles in Beijing, Fuzhou, and Inner Mongolia Erdos Resources City have successively obtained records. Beijing Public Resource Trading Service Platform has also issued a tender notice for the car-road-cloud integration project (preliminary design, construction drawing), with a project amount of 9.939 billion yuan. The final list of pilot cities is expected to be announced in June.