Samsung Electronics has established a $300-million innovation fund to drive research in autonomous and connected vehicles.
The Samsung Automotive Innovation Fund will be complemented by a new initiative from HARMAN, a company acquired by Samsung earlier this year, which designs and engineers technology for connected cars. The HARMAN Strategic Business Unit (SBU) will collaborate with the Samsung Strategy and Innovation Center (SSIC) to develop new technologies that offer ‘next-generation mobility solutions’.
Young Sohn, President and Chief Strategy Officer of Samsung Electronics and Chairman of the Board of HARMAN, said the company wants to take a “leadership role in supporting and shaping the future of smarter, more connected vehicles”.
He added: “In partnership with original equipment manufacturers OEMs and startups, we will make the driver and passenger experience safer, more convenient, and more enjoyable.”