Production of intelligent connected vehicles, or ICVs will hit 2 million in Shanghai by 2025 and their output value will top 500 billion yuan ($70.65 billion).

That's according to projections given to the 2022 China Auto Forum, which was held on Nov 8-10 in the Jiading district of the city in East China.

Shanghai is trying to build an automobile industry cluster with large-scale industry, a high-quality ecosystem and strong overall competitiveness.

Tang Wenkan, deputy director of the Shanghai Municipal Commission of Economy and Information, told  the forum Shanghai's auto output reached 2.4 million in the first 10 months of this year, up 11 percent year-on-year, among which new energy vehicles' output up 66 percent.

To date, Shanghai has 900,000 new energy vehicles on the road, ranking it first among cities all over the world.

At present, Shanghai regards automobile production as one of its key industries. It currently has eight complete vehicle manufacturers and about 600 spare parts manufacturers.