Samsung Electronics, the leading technology manufacturer based in South Korea, has held a meeting with Tesla, the United States-based electric car manufacturer, to explore cooperation on the development of autonomous vehicles. The two companies have been discussing ways to collaborate on IT-related technologies, such as semiconductors for autonomous vehicles.
According to Reuters, Samsung Electronics CEO Jay Y. Lee met with Tesla CEO Elon Musk on Wednesday to discuss cooperation in the high-tech industry. The meeting, which took place during Lee’s trip to the United States, marks the first meeting between the head of the South Korean chip giant and Elon Musk’s electric vehicle maker.
Samsung Electronics added that the two companies are currently exploring ways to cooperate on the development of IT-related technologies, such as semiconductors for autonomous vehicles.
Yonhap, a source, reported that the two parties will also collaborate on the development of IT technology for the next generation, including chips for fully autonomous cars.
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Expanding Partnership in the Automotive Chip Sector
Industry observers consider this meeting a significant development, paving the way for Samsung and Tesla to expand their partnership in the automotive chip sector. The global market for automotive chips is expected to reach US$400 billion in 2024 and reach US$700 billion in 2028.
Other Key Meetings
Apart from Tesla, Samsung Electronics CEO also met with Microsoft CEO Satya Nadella and Google CEO Sundar Pichai during his trip to the United States. These meetings signal Samsung’s commitment to exploring new areas of cooperation and partnerships with leading technology companies.