In a concerted effort to reinforce the growing influence of electric vehicles (EVs) globally, Qualcomm Incorporated QCOM recently collaborated with NIO Inc. NIO. Under the agreement, the company will incorporate its cutting edge autonomous driving technologies into NIO’s first flagship – the NIO ET7.
Notably, NIO will capitalize on Qualcomm’s acclaimed Snapdragon Automotive 5G platform and the 3rd generation Snapdragon Automotive Cockpit platform with heterogeneous computing resources. This will reinforce automotive innovation technologies prepared for the future, while providing immersive interactive experiences for users.
It is worth mentioning that Qualcomm is known for providing several automotive giants with the best digital cockpit technologies of the era of intelligent and connected 5G vehicles. Notably, the alliance will not only enhance NIO’s premium vehicle with enhanced driving experiences, but will also highlight the importance of Qualcomm’s experience in connectivity and computing to meet the growing demand for autonomous vehicles in smart mobility scenarios.
Headquartered in Shanghai, China, NIO is a well-known automobile company specializing in the manufacture of intelligent EVs and autonomous vehicles. With research and development facilities based in Beijing, Munich, Shanghai, San Jose, London, along with six other locations, the company is also involved in the first series of all-electric, single-seat racing – the FIA Formula E Championship.
Interestingly, NIO is also known for launching one of the fastest electric cars in the world, the EP9, in 2016. Supported by industry-leading dimensions, its latest ET7 model is equipped with a futuristic autonomous direction detection system to enable a enhanced smart connectivity experience. Equipped with two-stroke daytime running lights, the vehicle’s revolutionary design creates substantial space for all occupants driven by interactions in various settings.
Considered the first automotive-level 5G solution, Qualcomm’s Snapdragon Automotive 5G platform supports 2G, 3G, 5G and LTE connectivity based on ultra-low latency to facilitate better security and quality of service for mission-critical services. It works in conjunction with cutting-edge technologies, such as the cell phone for everything and the dual dual SIM active platform, which will help NIO to develop differentiated telematic products for connected vehicles of the new era, with the support of innovative applications.
Meanwhile, Qualcomm’s 3rd generation Snapdragon Automotive Cockpit platform features a unified software structure with cutting-edge AI capabilities that offers engaging graphics, rear seat entertainment, external or internal camera processing capabilities and premium audio, among other benefits . It is equipped with adaptable human-machine interfaces and supports smarter navigation. That said, it is hoped that the recent collaboration will not only strengthen the working relationship of both companies, but also boost the optimistic approach among Chinese car buyers with the launch of the NIO ET7. Notably, deliveries are scheduled to begin in 2022.
Backed by such indigenous products and technology collaborations, the wireless technology company based in San Diego, California, is focused on three areas – computing, connectivity and electrification. In addition, it is helping customers experience a seamless transition to super-fast 5G networks with low-power, resilient multi-gigabit connectivity. As one of the leading manufacturers of next-generation wireless chipsets, the company is focused on maintaining its leadership in 5G with several technological achievements.
Qualcomm expects long-term earnings growth to be 19.6%. The shares of this company Zacks Rank # 2 (Buy) were up 72.2% compared to the industry growth of 39.2% last year.
Some highly rated stocks in the industry are Comtech Telecommunications Corp. CMTL and Sonim Technologies, Inc. SONM. While Comtech sports a Zacks Rank # 1 (Strong Buy), Sonim carries a Zacks Rank # 2. You can see the complete list of today’s Zacks # 1 Rank stocks here.
Comtech delivered a surprise of positive gains in the last four quarters of 2% on average.
Sonim delivered a positive profit surprise behind four quarters of 2.2% on average.
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