Samsung has accelerated its involvement in automative technology but says it won’t be building its own self-driving cars.
The tech giant has set up a $300m fund that will invest in connected car and autonomous technologies, such as smart sensors, machine vision and other forms of artificial intelligence, high-performance computing, connectivity, safety systems, security, and privacy.
The fund’s first investment is $75m in TTTech, a networking and safety controls company that is working on the complex software integration for automated driving platforms.
Samsung has previously made investments in other 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 already clearly signalled its interest in this area, through its acquisition earlier this year of infotainment and connected car technology company Harman for $8bn.