You are currently viewing Qualcomm Announces New Automotive Partnerships With Mercedes-Benz And Red Hat

As part of its first Automotive Investor Day today, Qualcomm QCOM announced a pair of new partnerships with Mercedes-Benz and Red Hat RHT . Qualcomm has moved aggressively in recent years to diversify its business beyond mobile devices with vehicles seen as a prime hunting ground and it’s already making significant inroads.

In 2021, Qualcomm had almost $11 billion in revenue of which approximately $350 million was automotive, mostly for the cellular modems that provide connectivity as well as some Snapdragon processors that run infotainment systems. At the company’s 2021 investor day, CEO Cristiano Amon set a target of $3.5 billion in automotive revenue for 2026 and $8 billion by 2031. With the announcements that have been made since then, the chip design company is on its way, particularly winning business away from Intel INTC subsidiary,

Keep reading this article on Forbes Business.

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