Tuesday, 17 October, 2017

Samsung Sets Aside $300M to Develop Automated Driving Tech

Samsung’s new $300m self-driving fund is already splashing cash Samsung launches $300M autonomous driving fund, puts $90M into TTTech
Earnest Maxwell | 15 September, 2017, 00:38

The company on Thursday announced it has established a $300 million fund, which will focus on "connected auto and autonomous technologies, including smart sensors, machine vision, artificial intelligence, high-performance computing, connectivity solutions, automotive-grade safety solutions, security, and privacy". The Samsung Automotive Innovation Fund has an initial United States dollars 300 million, and its first investment is USD 75 million in TTtech, a specialist in the integration of automotive safety and control systems that works closely with Audi.

The announcement comes shortly after Samsung completed its acquisition of American audio and in-car technology firm Harman. However, the current funding provided by Samsung will be exclusively used to expand the self-driving auto systems. 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.

Other than Samsung, TTTech has already generated an amount of $54 million from Audi, General Electric and Infineon.

Samsung said that Harman has now set up a new business unit that works on autonomous and advanced driver assistance systems. Instead, Samsung will work with automakers and other mobility companies to "develop the next generation of automotive innovation". "The Autonomous/ADAS SBU and automotive fund reflect the company's commitment to the values of open innovation and collaboration".

"This strategic business unit demonstrates our commitment to answer that call and as a collective force and will combine our resources and networks".

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

Just don't expect Samsung to unveil its own vehicle any time soon.

It has a long-standing relationship with one of its investors, automotive manufacturer Audi, and has created automated driving systems for another carmaker, Volkswagen, which have been successfully piloted. Together, the two groups will focus on developing technologies that underlie self-driving systems, including high-performance computers, sensors and artificial intelligence.

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