TAIPEI (Taiwan News) — The Ministry of Economic Affairs' Department of Industrial Technology showcased its autonomous vehicle technology at the 19th Taipei International Automobile Electronics Show on Wednesday (April 17).

Organized by the Taiwan External Trade Development Council (TAITRA), the exhibition also runs concurrently with the Taipei International Auto Parts and Accessories Show (Taipei AMPA) at Taipei Nangang Exhibition Center Hall 1, per CNA. The ministry, in collaboration with manufacturers like Toyota and elan Microelectronics, set up the Taiwan Automotive Research Consortium (mTARC) pavilion to showcase 18 vehicle projects, according to a press release.

Department of Industrial Technology Director-General Chiu Chiu-hui (邱求慧) said the global automotive industry continues to develop toward electrification and intelligence. The International Energy Agency (IEA) forecast that by 2030, 60% of vehicles sold in the U.S. and Europe will be electric, he said.

Furthermore, market research agencies expect that by 2028, vehicles with Level 2 or higher autonomous driving capabilities will occupy over 50% of the market share, with the global smart automotive electronics market reaching US$500 billion by 2030, Chiu said.

Over the next four years, the economic affairs ministry plans to allocate NT$5 billion in scientific and technological resources to subsidize businesses in the research and development of electric and smart vehicle electronic technologies, he added.

The 19th Taipei International Automobile Electronics Show will run from Wednesday to Saturday (April 20). More information here.