But Samsung has a different approach. It wants to get into the industry which is dominated by the likes of Tesla and BMW. It won’t be so easy to make a dent in this segment and for this reason, Samsung is investing a lot of money into the existing players with an intent of learning the tricks of the trade.
Warren buffet backed BYD, the electric car manufacturer who sold the most number of vehicles in the world is on Samsung radar. Media reports have mentioned that Samsung is in talks with the car manufacturer and wants to invest as much as $440 million for a stake of 4%.
“Going forward, the parties will jointly seize opportunities in the rapid development of the global electric vehicles industry and promote sustainable development of the parties’ electric vehicles related businesses,” said BYD in its statement.
Electric cars are the vehicles of the future as the natural oil resources are depleting. Google already has a working prototype electric car that can also self-drive. Tesla is the leader with semi-autonomous electric vehicles. Apple is also reportedly building one.
Samsung might be the next name on the list as it already provides batteries and other car components such as control chips and semi-conducting components to major car manufacturers in Germany and isn’t far from building a car of its own
Let’s hope that this Samsung made car isn’t too far in the future.