Samsung sets aside $300 million for self-driving cars

Samsung today announced that they are setting up a $300 million for their own self-driving car push. In addition, the company is setting up a dedicated business unit to develop for autonomous technology.

This new unit will be built inside Harman, which Samsung acquired last year for $8 billion. The goal for Samsung here is to build a full technological platform that automakers can use and incorporate in their cars. This would allow automakers to incorporate the system and offer capabilities such as infotainment and self-driving.

Dinesh Paliwal, Harman’s chief executive officer told Bloomberg that “Our industry is literally screaming, saying, ‘We love Mobileye but we need an open platform.'” In addition, he stated that “Competition is the best thing ever. The auto industry wants us to do it and we think we have the capacity and the fuel power.”

Samsung has announced this after it was granted a self-driving vehicle permit in the State of California by California Department of Motor Vehicles. Of course, many other companies also have self-driving permits in California, but today, Samsung shows some of its future ambitions in the autonomous area.

Hamza Khalid

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