Chipmaker Qualcomm says automotive future business expands to $30 billion

Chip designer Qualcomm said its automotive business “pipeline” increased to $30 billion, up more than $10 billion since its third quarter results were announced in July. The jump in future business was thanks to its Snapdragon Digital Chassis product used by car makers and their suppliers.

It can provide assisted and autonomous driving technology, as well as in-car infotainment and cloud connectivity. Qualcomm said the automotive market could grow to as large as $100 billion by 2030. In the fiscal year 2022, it estimates its automotive business revenue will be about $1.3 billion, from $975 million the previous year.

CEO Cristiano Amon said, “strong win-win partnerships between the U.S. enterprises and the China enterprises will always be a force of stability”. Earlier this week, chipmaker Nvidia Corp unveiled a new automotive central computer called drive thor to provide autonomously and assisted driving as well as in-car digital entertainment and services.