Samsung Launches $300M Autonomous Driving Fund, Puts $90M into TTTech

“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,” said Young Sohn, President and Chief Strategy Officer of Samsung Electronics and Chairman of the Board of HARMAN, in a statement. “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.”

While giants like GM, Volkswagen and Toyota (among others) have traditionally dominated the automotive industry, the next wave of innovations that will shape how we (and other things) get from A to B is fast coming around the bend. This leaves everything to play for, as car ownership, in-car systems, and how cars will be operated are all getting disrupted and updated through technology.