The South-Korean technology company Samsung (005930:KS) announced that it will invest in connected cars and advanced driver assistance services (ADAS) via its new technology fund. According to Samsung, this 300 million dollars investment is part of the new autonomous division in Harman International. The announcement was made during the International Motor Show in Frankfurt last week.
Samsung said that it will seek to be a leader in the connected car market, but that they are not interested to enter to the manufacturing process of making cars. Harman International, a subsidiary of Samsung, is known for its navigation services and onboard entertainment systems. Samsung bought this company with 8 billion dollars in 2016.
Samsung has previously announced that it will start to test autonomous cars in public roads in California and Korea.