Samsung presents $300 mn Automotive Innovation Fund to take on Intel

SamsungSamsung today announced $300 million Samsung Automotive Innovation Fund focused exclusively on the automotive market.

Intel is the main competitor of Samsung in the global automotive market. Intel said Munich Reinsurance America will supply Mobileye’s Advanced Collision Avoidance System to its clients, including commercial fleets. Mobileye ADAS technology will mitigate the potential for collisions among fleets and improve driver behavior by using warning signals.

Samsung said the Innovation Fund will focus on connected car and autonomous technologies, including smart sensors, machine vision, artificial intelligence, high-performance computing, connectivity solutions, automotive-grade safety solutions, security, and privacy.

Samsung-promoted HARMAN has established a new Autonomous/ADAS Strategic Business Unit (SBU). The new HARMAN SBU will report to HARMAN’s Connected Car division and work with the Samsung Strategy and Innovation Center (SSIC) Smart Machines team to develop key technologies for safer, smarter, connected vehicles. John Absmeier will be heading new SBU.

“In partnership with OEMs and startups, we will make the driver and passenger experience safer, more convenient, and more enjoyable,” said Young Sohn, president and chief strategy officer of Samsung Electronics.

Samsung and HARMAN will focus on engineering, high-performance computing, sensor technologies, algorithms, artificial intelligence, as well as connectivity and cloud solutions that enable Advanced Driver Assistance Systems (ADAS) and automated driving.

“There is already a high demand for ADAS solutions, and that demand is rapidly growing with the advancements in connected cars and autonomous driving,” said Dinesh Paliwal, president and CEO of HARMAN.

Samsung Automotive Innovation Fund will be investing €75 million in TTTech, a provider of networking and safety controls.

Last year, Samsung announced the $8 billion acquisition of HARMAN, a provider of connected car technology.

TTTech has partnership with AUDI and Volkswagen Group. TTTech’s safety technologies power the zFAS piloted control platform in the 2017 Audi A8.

Beyond automotive, TTTech has improved the safety and reliability of networked computer systems in the aerospace and industrial sectors, with its technologies found in the Boeing 787 Dreamliner and NASA’s Orion spacecraft.

Samsung has invested in automotive startups, including AImotive and Renovo for automated driving; Quanergy, TetraVue, and Oculii for sensors; Autotalks and Valens for connectivity; and Graphcore for high-performance computing.

Samsung has secured licenses for on-road testing of autonomous driving software and hardware under development in Korea and California.

Related News

Latest News

Latest News