Qualcomm's venture capital arm planning to pick up stakes in EV startups

The company is also open to mergers and acquisitions in the auto tech space

In what could turn out to be a big push for the country’s auto sector, especially electric two-wheelers, global chip design maker Qualcomm’s venture capital arm is scouting around for domestic startups in the advanced auto tech space to buy equity stakes or go for a merger and acquisition. The company is also open to take minority stakes in electric vehicle (EV) companies if it fits into their overall strategy in expanding their technology use.

“Our ventures arm invests in key areas, including 5G, artificial intelligence (AI), automotive and Internet of Things (IoT) to help expand Qualcomm’s ecosystem of customers