Qualcomm Targets $8 Billion Automotive Revenue by 2029 with India Localization Push

Qualcomm is strategically localizing the production of its automotive modules in India, a move designed to bolster the domestic supply chain and support its Tier-1 ecosystem partners in shifting manufacturing to the country. This initiative underscores the US-based chipmaker's commitment to the "Make in India" vision and aims to significantly expand its footprint in the rapidly growing Indian automotive market.

Traditionally, Qualcomm's automotive modules have been manufactured in Taiwan, China, or Korea. Nakul Duggal, Group General Manager for Automotive, Industrial, and Embedded IoT at Qualcomm Technologies, stated that the company is "actively working" to localize this production within India. He emphasized that Qualcomm, a fabless company, is creating opportunities in its supply chain to direct manufacturing efforts locally, supporting partners as they transition their operations.

The company is heavily focused on the automotive sector, particularly electric vehicles (EVs), and has forged partnerships with major Indian original equipment manufacturers (OEMs) including Tata Motors, Mahindra, Maruti Suzuki, and Hyundai. Qualcomm provides its Snapdragon Digital Chassis platform, offering advanced solutions for telematics, infotainment, and driver-assistance systems (ADAS). By 2026, approximately a dozen vehicles are projected to feature Qualcomm’s Snapdragon Cockpit Elite and Snapdragon Ride Elite System-on-Chips (SoC), which were announced in October 2024.

The automotive business currently accounts for approximately 10% of Qualcomm's global revenue, translating to about $3.6 billion to $3.8 billion. The company has set an ambitious target to double this figure to $8 billion by 2029, with the India localization effort playing a crucial role in achieving this growth. Duggal highlighted the need for products specifically designed for the Indian market, noting that local design and manufacturing can provide a significant competitive edge, similar to the success seen in China.

This strategic pivot in India comes as Qualcomm continues to innovate globally. The company recently reported strong financial results for its third quarter of fiscal 2025, with revenues reaching approximately $10.37 billion and an Earnings Per Share (EPS) of $2.77. Furthermore, Qualcomm is expanding its global research and development footprint, including the establishment of an AI R&D center in Vietnam, underscoring its broader strategy to lead in intelligent computing across various industries.