Renesas Electronics to Set Up “New Energy Vehicle Solution Center” to Accelerate Efforts in the Chinese New Energy Vehicle Market
Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier
supplier of advanced semiconductor solutions, today announced it will
establish a “New Energy Vehicle Solution Center” on November 1, 2017,
directly under the China Business Unit to accelerate engagement with the
Chinese new energy vehicle (NEV) market.
With the announcements by the governments of Britain and France of
policies aimed at prohibiting the manufacture and sale of gasoline- and
diesel-powered vehicles by 2040, the trend away from gasoline- and
diesel-powered vehicles and toward electric vehicles (EVs), and plug-in
hybrid vehicles (PHVs) is gathering pace. China has positioned EVs,
PHVs, and fuel cell electric vehicles (FCEVs) as “NEVs” and considers
this sector to be a strategic national industry. The Chinese government
has announced a policy aimed at expanding production and sales of new
energy vehicles to 2 million units annually by 2020 and increasing the
share of total automobiles produced and sold accounted for by new energy
vehicles to more than 20 percent by 2025. To accelerate this effort and
to expand the transition into NEV, the Chinese government has also
announced its plan to implement a credit-score program from 2018, which
makes carmakers that manufacture or import NEVs obliged to obtain a NEV
score, which is linked to the average amount of fuel consumption and the
proportion of the number of NEVs they import. Under these regulations,
China is expected to drive the adoption of NEVs worldwide.
Renesas recognizes that China is now the world’s largest market for new
energy vehicles and an advanced market for new energy vehicle
development. As such, Renesas will establish the new organization in
order to actively engage in local innovation and market opportunities,
and to reflect these insights in the planning and development of
solutions as well as the formulation and implementation of plans for
cultivating new business. The new organization will work in an agile,
flexible manner to advance Renesas’ efforts in the Chinese market and
will operate directly under the China Business Unit, which was set up in
March 2017 with the aim of unifying in a single business unit sales,
marketing, design and development, and manufacturing functions for the
Chinese market.
In November 2015 Renesas announced a strategic partnership with National
Electric Vehicle Sweden (NEVS), a Swedish company in which the Chinese
government holds a majority investment, and in May 2017 Renesas
announced a strategic partnership with Great Wall Motors, China’s
largest manufacturer of SUVs and pick-up trucks. The new organization
will play a key role in promoting these strategic partnerships, thereby
accelerating the development of solutions for the Chinese new energy
vehicle market and contributing to the expansion of the market overall.
Outline of New Organization
• Name: New Energy Vehicle Solution Center
• Center Director: Tomoru Sato (President, Renesas Semiconductor Design
(Beijing) Co., Ltd.)
• Business Activities: Development of semiconductor solutions for use in
new energy vehicles for China
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE:
6723) delivers trusted embedded design innovation with complete
semiconductor solutions that enable billions of connected, intelligent
devices to enhance the way people work and live—securely and safely. A global
leader in microcontrollers, analog & power and SoC products, Renesas
provides the expertise, quality, and comprehensive solutions for a broad
range of Automotive, Industrial, Home Electronics, Office Automation and
Information Communication Technology applications to help shape a
limitless future. Learn more at renesas.com.
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Copyright Business Wire 2017
Source: Business Wire
(October 31, 2017 - 8:00 AM EDT)
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