Samsung Commits More Funds To Autonomous Driving Tech
Sep 15, 2017, 00:36
The new unit will be led by John Absmeier, vice president of smart machines for the Samsung Strategy & Innovation Center.
The new autonomous driving investment comes after the South Korean company completed its acquisition of Harman, which makes vehicle navigation systems and technology for cars to communicate with each other and infrastructure.
The announcement comes shortly after Samsung completed its acquisition of American audio and in-car technology firm Harman. Samsung has previously invested in a range of startups involved in autonomous driving and sensors through other investment funds. TTTech claims that its collaborative and flexible technology like its new open safety platform, MotionWise that enables OEMs and Tier-1 suppliers to accelerate the development, integration, and validation of new capabilities in their vehicles. Samsung isn't wasting any time: it has already committed to making a €75 million ($89.3 million) investment in Austria's TTTech Computertechnik AG.
"During this period of extraordinary transformation in the automotive industry, we are excited to play a leadership role in supporting and shaping the future of smarter, more connected vehicles", said Young Sohn, President and Chief Strategy Officer of Samsung Electronics and Chairman of the Board of HARMAN, in a statement. The company said it "will not enter the car-manufacturing business". Samsung also announced that it had created a business unit within Harman to oversee autonomous driving.
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Samsung has also secured licenses for on-road testing of autonomous driving software and hardware, which is under development in South Korea and California in the US.
"This strategic business unit demonstrates our commitment to answer that call and as a collective force and will combine our resources and networks". If it works, it will be able to offer carmakers a lightning-quick connected system for infotainment, mapping, concierge services and autonomous driving - without the competitive anxieties other tech giants like Apple Inc. or Alphabet Inc.'s Google tend to arouse.
Just don't expect Samsung to unveil its own vehicle any time soon.
Samsung's investments to improve the self-driving space include looking into the technology behind sensors, machine vision, artificial intelligence and security. "At Samsung, we see it as our responsibility to invest in the technologies that will revolutionize the way we live, work, and connect with one another".
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