This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXNPEI3D0E9_L.jpg
(Reuters) – Automaker Stellantis has signed a multiyear deal to use Qualcomm (NASDAQ:QCOM)’s next-generation connected-car technology in its vehicle lineup, the companies said on Thursday.
Fourteen Stellantis brands, including Peugeot (OTC:PUGOY), Fiat and Jeep, will use Qualcomm’s vehicle cockpit and 5G telematics technology starting in 2024 with the Maserati brand being the first out the gate, said the companies, which did not disclose the deal value.
Stellantis Chief Executive Carlos Tavares said in a statement the collaboration helps the company more closely manage the complete electronics supply chain.
Qualcomm general manager of automotive, Nakul Duggal, told Reuters more automakers are working directly with chip makers rather than just relying on their other suppliers to act as a go-between.
“If you go back even a couple of years, it was quite uncommon for (automakers) to make a decision like this,” Duggal said. “This is now becoming much more common.”
He added Qualcomm’s recent acquisition of self-driving tech software company Arriver gives its so-called “digital chassis” the ability to offer a full set of driver assistance and self-driving capabilities in addition to cockpit and telematic technology. But the deal with Stellantis this time does not include that newer offering.
Qualcomm said that since it first unveiled its driver assistance and self-driving system – called Snapdragon Ride – in 2020, its automotive business deal pipeline has increased to $13 billion last year from $3 billion in 2017.
In a statement the two companies said the in-car communication and infotainment systems for Stellantis is being designed and engineered together with tech giant Amazon.com (NASDAQ:AMZN) and Taiwanese manufacturing company Foxconn.
(The story is updated to correct spelling of Qualcomm automotive general manager’s last name to Duggal)
