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Business deals

Renault's new EV outfit to get investment from chipmaker Qualcomm

Japanese business partners Nissan and Mitsubishi undecided on participation

Qualcomm and Renault said they would extend their strategic cooperation on electric cars. (Source photos by AP and Reuters) 

TOKYO/PARIS -- Renault announced on Tuesday that U.S. chipmaker Qualcomm will invest in its planned electric vehicle company, part of the French automaker's structural reforms amid a rapid market shift towards green cars.

Qualcomm Technologies, the leading semiconductor supplier's group company, will invest in the new company and jointly develop in-car systems with Renault, expected to be available from 2026. Details of the collaboration are to be determined, but the two partners have already worked together in a technical co-operation.

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