The intelligent and connected vehicle (ICV), a trendy and promising industry form, has evolved with the development of information technology. Benefiting from the disciplinary crossing and integration of emerging technologies of various industries and fields, related industries will be witnessing a collaborative growth through the industrialization of ICVs. China, as the most productive nation in terms of automobiles in the world, desires to promote industrial transformation and upgradation, thus becoming one of the most powerful nations in the automobile industry. In this study, the connotation and significance of establishing an automobile power is illustrated, the current conditions and future challenges in the development of ICV that China faces are analyzed, and a top-level strategic design is proposed.