The FINANCIAL — Samsung Electronics Co. Ltd. on September 14 announced a strategic partnership with TTTech, a global leader in the field of robust networking and safety controls.
Along with this partnership, Samsung will also make a €75 million strategic investment in TTTech as the first investment from its recently-announced Samsung Automotive Innovation Fund (SAIF), and highlights the company’s commitment to bringing safer cars to the road and ushering in the next generation of mobility. It comes on the heels of Samsung’s $8 billion acquisition of HARMAN, a leader in connected car technology, and marks another significant step for the company in the automotive space.
Beyond automotive, TTTech has improved the safety and reliability of networked computer systems in the aerospace and industrial sectors, with its technologies found in the Boeing 787 Dreamliner and NASA’s Orion spacecraft, according to Samsung.
“Automotive advances like autonomous controls and advanced driver assistance systems will have a profound impact on society—from transforming urban spaces to bringing mobility to aging populations. 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,” said Young Sohn, President and Chief Strategy Officer of Samsung Electronics and Chairman of the Board for HARMAN. “TTTech has demonstrated a remarkable ability to innovate and build world-class technologies and platforms. This is a seminal moment for Samsung and our Automotive Innovation Fund, and we look forward to working with leading OEMs like Audi and the entire TTTech team to set a new standard for automotive-safety technology.”
“We’re excited about Samsung’s commitment to TTTech and the joint creation of new architecture for open autonomous and ADAS technologies, involving multiple key automotive players and suppliers,” said Alejandro Vukotich, Vice President Autonomous Driving of AUDI AG.
“We are very proud to have Samsung as an investor and partner in TTTech to create solutions for the next generation of highly integrated and data-intensive safety systems” said Georg Kopetz, Member of the Board at TTTech. “Samsung brings a breadth and a depth of technologies as well as an ecosystem of partners to accelerate development for level 2 to level 5 autonomous platforms.”
“Together we will build products to support new NCAP requirements, solutions for in-vehicle infotainment systems, and new scalable architectures to support fully autonomous vehicles across various industries,” stated Stefan Poledna, Member of the Board at TTTech.
At a transformative moment for the auto industry, TTTech plans to use Samsung’s investment to accelerate the growth of its safety technology for autonomous driving and operations. The company’s collaborative and flexible technology—like its new open safety platform, MotionWise—enables OEMs and Tier-1 suppliers to accelerate the development, integration, and validation of new capabilities in their vehicles.
Together, Samsung and HARMAN are fostering the development of cutting-edge automotive safety technologies like those from TTTech, which will raise the bar for automotive safety controls and ADAS throughout the industry. HARMAN, a Tier 1 supplier, now makes TTTech’s open safety solutions available to the leading global automotive OEMs.
President Young Sohn will join Ricky Hudi, founder and managing director of Future Mobility Technologies, and other industry experts on TTTech Auto division’s new supervisory board.