KPIT Tech’s Qorix JV Gets Qualcomm as Third Shareholder

17 Mar 2025 , 12:00 PM

KPIT Technologies Ltd on Thursday reported that Qualcomm Ventures LLC would be the third stakeholder in its joint venture company, Qorix GmbH. According to the company’s exchange filing, Qualcomm can invest up to €10 million in Qorix. Qorix GmbH was originally a 100%-owned subsidiary of KPIT Technologies and subsequently formed a joint venture between KPIT and ZF Friedrichshafen AG (ZF).

The joint venture was set up to build next-generation automotive middleware stacks for the converging automotive market. KPIT and ZF jointly own 50:50 of the Qorix entity, which was previously invested by ZF Friedrichshafen AG to the tune of €1.35 million. This joint venture was approved by the KPIT board in April 2023.

Qualcomm’s investment will help accelerate the development of SDV, with innovation in high-performance, scalable solutions empowering OEMs and Tier-1 suppliers to allow next-gen vehicles. Following this investment, Qualcomm will have a right to nominate one member to Qorix’s advisory board. KPIT Technologies promoters and the promoter group have no interest in Qorix GmbH. The transaction is not considered a related party transaction.