The company has become a major player in the vehicle space in recent years.
The latest sign of that came during a CES news conference Wednesday between Honda Motor Co. and its joint-venture partner Sony Corp. when the companies revealed that they will draw on Qualcomm Technologies’ Snapdragon digital chassis for their planned Afeela electric vehicle, which Honda plans to begin selling in 2025.
Qualcomm has also flexed its financial muscles against traditional players in the auto space. Last year, it outbid Canadian supplier giant Magna International Inc. to buy Swedish tech supplier Veoneer’s Arriver software stack. It was a move that helped give Qualcomm a larger foothold in advanced driver-assistance technology beyond its traditional automotive silicon and software businesses.
The increased focus on auto has resulted in significant financial gains for the company. Qualcomm said in September that its automotive contracts will generate $30 billion in sales in the coming years, up from $19 billion just two months earlier.
That figure has risen since then, Duggal said, though he declined to say by how much.