Samsung Electronics Co. says it will spend 75 million euro ($89 million) in TTTech, a Vienna, Austria-based company that provides technologies for auto networks and safety controls to Audi cars and others.
The Thursday announcement to invest in a partner company of Audi AG comes as the South Korean company completed its acquisition of Harman. Samsung said it created a business unit at Harman to be tasked with autonomous driving and advanced driver assistance systems.
Samsung's investment in TTTech is the first investment from its $300 million fund to strengthen its technology pool for autonomous driving, such as artificial intelligence and security.
Samsung is the world's largest maker of memory chips and smartphones.