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EV-a2z > News > Samsung, Tesla explore partnership prospect in electric vehicles
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Samsung, Tesla explore partnership prospect in electric vehicles

EV-a2zm
Last updated: 2023/06/11 at 12:57 PM
EV-a2zm Published May 16, 2023 2 Min Read
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Tesla logo at the trunk of Model X at the evening
Tesla logo at the trunk of Model X at the evening
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Leading American automaker Tesla strives to fully dominate the electric vehicle market with a new potential partnership. Tesla CEO Elon Musk and Samsung Electronics Co. Executive Chairman J. Y. Lee met in the US last week, Yonhap News Agency reports citing the South Korean firm’s Sunday statement.

NEWS: @elonmusk and @baglino met with Samsung Chairman Lee Jae-yong this past week in Silicon Valley for the first time.

Samsung & Tesla are said to be actively conducting exchanges for next-gen IT development, including the joint development of fully autonomous semiconductors. pic.twitter.com/Z3p35BiG3G

— Sawyer Merritt (@SawyerMerritt) May 14, 2023

According to the report, Lee and Musk met at Samsung Electronics’ semiconductor research center in Silicon Valley, California. It is worth noting that the private meeting was the first between the heads of the electric vehicle giant and the largest chipmaker worldwide.

Agenda

Interestingly, the report suggests that the two leading technology firms are exploring a potential partnership to develop IT-related technologies, including semiconductors for self-driving cars.

This meeting may unlock new opportunities for the two companies, particularly in the automotive chip sector. 

Hyperscale applications like #AI require greater memory density and bandwidth, bringing even the fastest servers to their knees. #CXL technology by #SamsungMemory can help businesses scale up their existing servers to better address these challenges. pic.twitter.com/QSJnG5JOzZ

— Samsung Semiconductor (@SamsungDSGlobal) May 12, 2023

Tesla probably wants to capitalize on Samsung’s expertise in semiconductors, given that the latter is one of the biggest producers in the world. However, a formal agreement has yet to be made public.

Experts forecast that the global automotive chip market will hit US$400 billion in 2024 and $700 billion in 2028, the report stated.

The 22-day trip Lee took to the United States ended on Friday with his arrival back home. Sources claim that Lee also spoke with several other business executives during his stay, including Microsoft CEO Satya Nadella and Google CEO Sundar Pichai.

See Also:

  • Bank of America sees ‘On Semiconductor’ stock surging more than 25% as EV demand grows
  • Global auto semiconductors shortage to improve or even end in 2023
  • Semiconductors may drive EV growth
  • Tesla delivers hardware 4 computers (FSD2)-equipped vehicles
  • Tesla seems to have purchased a vast number of new TSMC Self-Driving Chips

The possible merging of Samsung’s technological strength and Tesla’s supremacy in automobile production might pave the way for an intriguing relationship at a time when the electric vehicle market is expanding at an unprecedented pace.

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TAGGED: Electric Vehicle, EV, Samsung, Tesla, USA
EV-a2zm June 11, 2023 June 11, 2023
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