Samsung said to be in talks to buy auto components manufacturing arm from Fiat
Samsung has been investing in smart automobiles segment from the past few months. It recently started collaborating with German car makers to develop smart brains for futuristic automobiles and also launched Samsung Connect Auto. Now, the company is said to be in talks to buy an auto components manufacturing brand.
According to a report from Bloomberg, Samsung is said to be in talks to acquire Magneti Marelli, a subsidiary of Fiat Chrysler Automobiles that specializes in developing and manufacturing high-end automotive parts. The South Korean electronics giant is said to be interested in Magneti Marelli’s lighting, entertainment and telematics capabilities.
The deal is reportedly worth $3 billion, and if it’s true, it would be Samsung’s biggest acquisition outside of South Korea. This shows that Samsung is quite serious about smart cars. The company even made a separate race track to test its autonomous cars. It collaborated with SAP and SEAT to develop future projects for connected cars.Join the Discussion