Original equipment manufacturer (OEM) Qualcomm is scouting Indian electric vehicle startups for potential investments.
Besides looking at picking up stakes in Indian EV startups, Qualcomm’s venture capital arm is also open to mergers and acquisitions to get a piece of the emerging industry. “Our venture arm invests in key areas, including 5G, artificial intelligence (AI), automotive and Internet of Things (IoT) to help expand Qualcomm’s ecosystem of customers and partners. Qualcomm reportedly finds big potential for vehicle-based ‘subscription services’ such as aided driving. The Indian EV landscape is primarily led by homegrown players such as Hero Electric, Ola Electric, Okinawa, Tata Motors and Mahindra across multiple segments