At the 19th Shanghai Motor Show, which opened last April at the National Exhibition and Convention Center (NECC) in Shanghai, China, the Arcfox Alpha S HBT autonomous vehicle, developed with Huawei's participation, is on display. [Image source=Yonhap News]
[Asia Economy Reporter Kwon Seoyoung] It has been revealed that many Chinese companies have begun developing new electric vehicle models, leading to fierce competition to secure talent in the related fields.
On the 28th, Hong Kong's South China Morning Post reported that as competition to secure talent in China's electric vehicle sector intensifies, related companies are actively scouting by promising engineers with technical skills up to a 50% salary increase. Currently, China's automobile market is rapidly shifting from traditional cars to electric vehicles. In addition to the development of new electric vehicles, investments related to autonomous vehicle development and the integration of various digital technologies are also actively taking place.
Last year, the number of electric vehicles sold in China reached 1.17 million units, and the number of electric vehicle manufacturers was estimated to be close to 200. Not only existing electric vehicle development companies but also major telecommunications equipment company Huawei, smartphone manufacturer Xiaomi, and China's largest search engine company Baidu have entered the competition to develop new electric vehicles. Huawei is collaborating with China's electric vehicle manufacturer 'Beijing Automotive BluePark New Energy Technology' to develop electric vehicles equipped with autonomous driving functions.
The world's largest electric vehicle company Tesla also took the lead in the Chinese electric vehicle market by establishing 'Gigafactory 3' in 2019. In response, various domestic electric vehicle companies in China are also pursuing catch-up efforts. Electric vehicle startup Weilai announced plans to increase its annual electric vehicle production to 120,000 units. Another electric vehicle startup, Xiaopeng, also set a goal to increase its annual production to around 150,000 units.
As competition among domestic and foreign companies intensifies over China's electric vehicle market and the battle for securing personnel becomes fierce, Chinese job site Zhipin.com revealed that domestic electric vehicle companies offer an average monthly salary of 15,367 yuan (approximately 2.7 million KRW) for technical positions related to electric vehicle production. This amount represents a 21.6% increase compared to last year's figures.
China's 'electric vehicle boom' is expected to continue unabated. Global financial institution USB projected that the size of China's electric vehicle market will reach sales of 6.6 million units by 2025. In this regard, Hong Lingyuan, Executive Director of local human resources service company Jointlink Consulting, pointed out, "Since the second half of 2020, supply and demand have shifted, making automotive industry professionals rare assets in the labor market," adding, "There is a severe shortage of engineers with advanced technical skills in the electric vehicle sector."
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