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Chipmaker Qualcomm says automotive future business expands to $30 billion

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By Jane Lanhee Lee and Akash Sriram

(Reuters) – U.S. chip maker Qualcomm Inc on Thursday said its automotive business “pipeline” increased to $30 billion, up more than $10 billion since its third quarter results were announced in late July.

The jump in future business was thanks to its Snapdragon Digital Chassis product used by car makers and their suppliers, said Qualcomm at its Automotive Investor Day. The Snapdragon Digital Chassis can provide assisted and autonomous driving technology as well as in-car infotainment and cloud connectivity.

With electric vehicles and autonomous features increasing in cars, the number of chips used by automakers are surging and the automotive market has been a key growth area for chipmakers.

Earlier this week, chipmaker Nvidia Corp also unveiled a new automotive central computer called DRIVE Thor to provide autonomous and assisted driving as well as in-car digital entertainment and services.

(Reporting by Jane Lanhee Lee and Akash Sriram; Editing by Sandra Maler)

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