Samsung Invests In Autonomous Driving

Samsung launches $300M autonomous driving fund, puts $90M into TTTech

The company on Thursday announced it has established a $300 million fund, which will focus on "connected vehicle and autonomous technologies, including smart sensors, machine vision, artificial intelligence, high-performance computing, connectivity solutions, automotive-grade safety solutions, security, and privacy".

Outlining its objectives Samsung said its goal was to foster technologies that "make cars safer while creating a more comfortable and convenient mobility experience", but is at pains to stress that it has no intention of building a self-driving vehicle of its own.

However, Samsung said that $75m of that has already been allocated to an Austrian developer called TTTech that develops safety, deterministic networking, real-time systems, and complex software integration for connected and autonomous driving platforms. That will include an advanced-driver assistance platform with open software that allows outside engineers to build products off of it - a shot at Mobileye, which was acquired by Intel Corp. this year in a move that mirrored Samsung's automotive leap.

Samsung has announced a $300 million fund dedicated to self-driving cars.

Samsung does not plan to manufacture cars, the company said in its press release. Harman, which is a Tier 1 supplier, will now make TTTech's open safety solutions available to the leading global automotive OEMs.

The company has already splashed out $8 billion on the audio firm Harman, which is focused on connected vehicle solutions.

"We are very proud to have Samsung as an investor and partner in TTTech to create solutions for the next generation of highly integrated and data-intensive safety systems" said Georg Kopetz, member of the board at TTTech.

John Absmeier, who is the Vice President of Smart Machines for SSIC, has been appointed Senior Vice President of the new HARMAN SBU and will ensure collaboration to bring Autonomous and ADAS solutions to the market. Samsung in August received a California permit to test autonomous cars on public roads.

The company had previously invested in automotive technology particularly automated driving startups such as AImotive, Renovo; Quanergy, TetraVue, and Oculii for sensors; Autotalks and Valens for connectivity; and Graphcore for high-performance computing.

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