Not to be left behind, Samsung unveils $300m self-driving vehicle fund

Samsung launches $300M autonomous driving fund, puts $90M into TTTech

Samsung launches $300M autonomous driving fund, puts $90M into TTTech

Samsung's investment in TTTech is the first investment from its $300 million fund to strengthen its technology pool for autonomous driving, such as artificial intelligence and security.

The new autonomous driving investment comes after the South Korean company completed its acquisition of Harman, which makes auto navigation systems and technology for cars to communicate with each other and infrastructure.

The South Korean company, known for its Galaxy smartphones, is launching a new unit dedicated to automotive tech.

"Together we will build products to support new NCAP requirements (safety regulations), solutions for in-vehicle infotainment systems, and new scalable architectures to support fully autonomous vehicles across various industries", stated Stefan Poledna, a member of the board at TTTech. Samsung also intends to put the funds towards making the necessary machine learning and computer vision software, which will accompany these hardware.

"In partnership with OEMs and start-ups, we will make the driver and passenger experience safer, more convenient and more enjoyable".

Too early to tell if Hurricane Jose could hit Florida
Haney said some of the Early Warning Forecast Center's most trusted models have the storm tracking close to the eastern seaboard. The National Hurricane Center called Jose an "amorphous blob of deep convection", in its 11 a.m. advisory.

TTTech has expertise over a wide range of services including "functional safety, deterministic networking, real-time systems, and complex software integration" for autonomous and other automated systems.

Dinesh Paliwal, president and CEO of Harman added: "There is already a high demand for Advanced driver assist system solutions, and that demand is rapidly growing with the advancements in connected cars and autonomous driving".

In addition to the fund, connected vehicle technology company, Harman, which was acquired by Samsung earlier this year for $8 billion, has established a new Autonomous/ADAS Strategic Business Unit.

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

In announcing the new unit, Samsung was careful to note that it won't enter the car-manufacturing business, positioning itself as non-threatening ally to automakers. "At Samsung, we see it as our responsibility to invest in the technologies that will revolutionize the way we live, work, and connect with one another".

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