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Samsung to Develop Next-Generation Auto Parts for Autonomous Cars

The announcement that Samsung will begin developing parts for self-driving and Internet-connected cars is the official acknowledgment by the South Korean company that it has decided to join the technology heavyweights in the automotive market.
Samsung Logo 1 photo
Although no further details have been given, the company has said that a new team was formed to focus on parts for self-driving cars, separate from its three existing business units.

Everyone knows Samsung as one of the largest makers of smartphones, but apart from that, it also has a components unit that develops chips and displays, and a third one, the consumer-electronics unit, which focuses on televisions and washing machines.

Another South Korean company, Hyundai, has announced it is also considering developing its own computer chips and sensors used in self-driving cars. The company plans to spend more than 1.7 billion dollars on research and expects fully self-drivable cars to be available in 2030.

After several years of building its own software to connect mobile apps in its cars and after having recently thrown in the towel, Hyundai is now planning to do more than that. After this unexpected news, it will become the first carmaker that might use software from rivals Google or Apple.

According to The Wall Street Journal, in October, General Motors announced its partnership with LG Electronics for supplying the key components needed for powering the Chevrolet Bolt, the Detroit-based automaker’s upcoming long-range electric vehicle.

More and more traditional competitors from the auto industry are making huge progress in developing electronic car parts as Google and Apple are building their own. It’s a very bold move for the South Korean companies to enter this already crowded world, where stakes are getting higher and higher.

The announcement that Samsung Electronics is entering the automotive market comes at a time when the company is not doing so well, suffering from slower growth rates in its key mobile unit. It looks like branching into other areas might help it keep things afloat in the long run.

 
 
 
 
 

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