Samsung Goes All In, With Its Autonomous Venture – Throws In Another $300 Million
After its recent acquisition of high end audio equipment manufacturer Harman International Industries Inc., Samsung Electronics is angling to become the go-to supplier of everything from in-car entertainment to connected-auto services. With the deal, Samsung hope to marry its fast microprocessor and software technology with Harman’s infotainment and vehicle systems to offer carmakers more advanced connectivity.
Competition is the best thing ever. The auto industry wants us to do it and we think we have the capacity and the fuel power.
– Dinesh Paliwal, CEO of Harman International Industries
Alongside this acquisition for $8 Billion, Samsung is plowing in another $300 million into a new fund investing in startups in the autonomous division. This division will compete on everything from driving algorithms to systems integration, which includes an advanced-driver assistance platform with open software that allows outside engineers to build products off of it. The fund’s first strategic investment will be in TTTech, a safety-controls developer for autonomous systems.
But with all of this, Samsung was careful to note that it won’t enter the car-manufacturing business, positioning itself as non-threatening ally to automakers. Samsung in August received a California permit to test autonomous cars on public roads.