Chipmaker Qualcomm says automotive future business expands to $30 bn

U.S. chip designer 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, Qualcomm said 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 increasing autonomous features in cars, the number of chips used by automakers is surging and the automotive market has been a key growth area for chipmakers.