Samsung has announced a $300 million fund that will help to further the development of autonomous technologies.
In a statement, the technology company said it will set up a new business unit within the Harman audio giant that’ll create a platform which carmakers can adopt to run both a vehicle’s infotainment system and self-driving capabilities.
As part of its hefty autonomous technology commitment, the company will invest almost $90 million into TTTech, an Austrian developer of platforms and safety software for connected vehicles.
In a statement, president and chief strategy officer of Samsung Electronics and chairman of the board of HARMAN, Young Sohn said “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.
“The Autonomous/ADAS Strategic Business Unit and automotive fund reflect the company’s commitment to the values of open innovation and collaboration. In partnership with OEMs and startups, we will make the driver and passenger experience safer, more convenient, and more enjoyable,” he said.
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