[THE INVESTOR] Samsung Electronics said on Sept. 14 it is setting up a fresh fund worth US$300 million to invest in autonomous driving technologies such as sensors, artificial and connectivity solutions and security.

The first funding worth 75 million euros (US$89 million) will go to Austria’s TTTech, a global leader on advanced driver assistance systems, more widely known as ADAS.

In the meantime, Samsung said its connected car and in-car infotainment affiliate Harman has recently set up a new team, called Strategic Business Unit, which is dedicated exclusively to autonomous driving technologies and related driver assistance systems.

Harman’s new team will work closely with Samsung Strategy and Innovation Center, Samsung’s Silicon Valley head office that seeks the Korean tech giant’s new growth engine businesses.

Samsung has recently gained a license in Korea and California to test-run its software and hardware applications for self-driving vehicles.

By Lee Ji-yoon (jylee@heraldcorp.com)