Automated driving, automotive IoT, and new energy vehicles are the three major innovations of the automotive electronics technology sector, as well as the future development trend of the automotive industries. To integrate the resources and capacities of the electrical and electronic industries in Taiwan, and to grasp the market opportunities of the global automotive electronics market, the Taiwan Electrical and Electronic Manufacturers' Association has specifically invited enterprises from semiconductor, information and communication, and automotive industries to form a Taiwan Autotronics Collaborative Alliance (Taiwan V-Team). The Founding Conference was held on March 22, and had 28 enterprises joining the alliance in the first batch.
        By 2016, the global automotive electronics market had reached NT$ 7.8 trillion, and projected to reach NT$ 9.71 trillion by 2020, with a compound annual growth rate of 5.6%. The proportion of the costs of automotive electronics in vehicles had gradually increased to near 40% and estimated to rise to 60%, fully demonstrating the growth potential of the automotive electronics industries. According to IEK estimations, the output of automotive electronics industries in Taiwan in 2015 was only NT$ 165 billion, accounting for 2.1% of the global output. This means that there is tremendous room for growth.
        The first batch of V-Team members included 28 enterprises from local semiconductor, automotive electronics, and electric car component industries, such as Taiwan Semiconductor Manufacturing Company, MediaTek, Etron Technology, China Motor Corporation, Hua-chuang Automobile Information Technical Center, Unimax Electronics, Hota Industrial Mfg, and Fukuta Elec. & Mach. During the Founding Conference, former Economic Minister Woody Duh was elected as the Chief Coordinator while Chairman of Photic Electronics Yu Wen-Guang and Chairman of Etron Technology Dr. Nicky Lu were elected as the Deputy Coordinators.
        Woody Duh expressed that, automotive systems required decades from the designing, research, development, to production. If Taiwan fails to enter this market as soon as possible, Taiwan might not be able to secure a position in future with the aggressive entrance of various countries around the world. Currently, the alliance has formed three cross-sector task teams, including North American businesses, performance upgrades of low-speed electric vehicles, and smart tires, to seek out the business opportunities in these three sectors. (Source: Commercial Times)