Shenzhen rolls out incentives to boost ICV development

Shanghai (Gasgoo)- Shenzhen has issued a string of measures to support orderly and sound development of local ICV (intelligent-connected vehicles) industry, of which the capital funds launched to encourage projects and companies focusing on relevant businesses are quite attractive.

The projects that aid faster breakthroughs in the core links along the ICV industrial chain will be funded with 200 million yuan ($28,021,800) at most, which is equivalent to 40% of the project's total investment, according to a document released by the Development and Reform Commission of Shenzhen Municipality on May 27. Under the projects, teams composed of talents recruited worldwide will be dedicated to easing the bottlenecks in the engineering of cutting-edge technologies and the R&D of key auto parts.

(Photo source: Auto X)

To strengthen the efforts in solving major technical problems, the government will offer those projects subsidies no more than 15 million yuan ($2,096,085), which is worth 50% of the R&D investment. The available projects involve the environmental sensing technologies such as V2X (vehicle-to-everything) communications, machine vision and millimeter-wave radar, the navigation technologies like HD map and high-precision positioning, as well as the decision-making and planning skills such as machine algorithm, chip processing and operating system.

The document shows that a subsidy equal to 40% of the project's investment will be offered to those that focus on the engineering R&D of the crucial fields along the ICV industrial chain, such as operating system, vision system, vehicular radar, human-machine interaction, V2X communications, and pertinent platforms and application software.

The projects launched to promote the application of autonomous driving technologies and retrofit automobile intelligence and unmanned technologies will be granted up to 5 million yuan ($698,870) worth of subsidy based on the final achievements.

Moreover, the projects preoccupied with the building of public service platforms, the simulation R&D of city-level scenarios as well as the demonstration and application of ICVs will all be afforded with cash supports.

Aside from the cash incentives, the local government will help the city in improving its management level to intelligent road traffic. It will build a data-based self-driving transport management system and analyze information about vehicles, foot traffic and infrastructures by fully leveraging cloud computing, AI and big data technologies, so as to achieve smart decision-making, such as tracking a vehicle’s movements, controlling passenger and traffic flows, and warning of safety risks.