NEW YORK — Qualcomm projects that its automotive contracts will generate $30 billion in sales, up from about $19 billion only two months ago, the company said Thursday.
The fast-growing figure reflects Qualcomm's efforts to become a prominent automotive presence, CEO Cristiano Amon said during the company's first automotive investor day.
At the core of Qualcomm's automotive business is its Snapdragon Digital Chassis, the company's set of computing platforms for use in connectivity, digital cockpits, vehicle-to-cloud services and advanced driver-assistance systems.
Mercedes-Benz is the latest automaker that Qualcomm will supply. Mercedes plans to power its vehicles' digital cockpits and telematics systems using Snapdragon by the end of the year, Amon said, though he declined to say which nameplates will receive the platform.
Qualcomm's rapidly growing automotive business and the deal with Mercedes are a reflection of how well-positioned the company is to grow as vehicles become more high-tech and connected, Amon said.
"What we have done for many of our customers is to provide confidence that they have a platform where they have the ability to innovate," he said.