Samsung has announced a $300 million fund dedicated to self-driving cars.
The bounty of cash is part of a new business unit called the Samsung Automotive Innovation Fund. It aims to build on the company’s existing investments in the automotive sphere.
The company has already splashed out $8 billion on the audio firm Harman, which is focused on connected car solutions.
In a blog post on Thursday (via The Verge), the firm said the unit will “focus on connected car and autonomous technologies, including smart sensors, machine vision, artificial intelligence, high-performance computing, connectivity solutions, automotive-grade safety solutions, security, and privacy.”
Rather than building a car of its own, Samsung and Harmon plan to develop technologies that can be incorporated into vehicles from automakers.
The company added: “Samsung will not enter the car-manufacturing business, remaining focused on working with automakers and mobility enablers to develop the next generation of automotive innovation.”
Instead, it wants to “develop key technologies for safer, smarter, connected vehicles.”
A couple of weeks ago, Samsung received a permit to test self-driving vehicles in California. It already has one for its Korean homeland.
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