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Recent surveys show that the number one issues in car electronics are cost reduction and better collaboration across the complex automotive design chain of IP providers, semiconductor providers, subsystem suppliers and system integrators (see [1]). With millions of lines of software code powering modern cars and the number of processors today already exceeding 80 (and further growing), software development becomes the critical component determining success of automotive development projects. Virtualization of hardware to enable software development – a technique already quite adopted in other application domains like wireless communication - is entering mainstream in automotive electronics as well. However, different areas of the car electronics require different modeling accuracy.