2022 CES Technology Conference concludes today

The 2022 CES Technology Conference will end today.

CES, formerly called the Consumer Electronics Show, is an annual conference where tech companies present new products.

While CES normally hosts 170,000 attendees at the Las Vegas Convention Center, the Omicron variant led many companies to participate virtually. The remaining in-person attendees were required to be vaccinated and tested.

One of the major headlines of this year’s conference was electric vehicles (EVs). General Motors announced an electric Chevy Silverado and Stellantis announced an all-electric Chrysler lineup. Nonautomotive companies such as Sony also joined the EV race, indicating that the auto industry is becoming a tech industry.

At CES, semiconductor company Qualcomm announced a partnership with General Motors to create chips with improved battery life for EVs, self-driving technologies, and connected infotainment systems. In the coming years, expect semiconductor companies to compete for deals with car companies in a bid to revolutionize automotive connectivity and intelligence.

By 2030, automakers are expected to spend $515 billion on EVs. Automakers producing EVs can lead to their market valuations nearing on par with tech companies. After CES, expect a surge of companies to join the EV race to stay relevant and boost their market value.

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