Tesla CEO Elon Musk and a few of his executives reportedly met with Samsung Electronics Chairman Lee Jae-yong and others from the corporate on Sunday, Might 14, 2023. Inside sources declare the 2 corporations have been discussing future cooperation associated to next-gen know-how for absolutely autonomous driving, amongst different associated matters.

Samsung is probably the most outstanding chipmaker on the planet, so it is smart that one of many leaders in superior driver-assist programs would meet with the corporate. Nevertheless, this was truly the primary time CEO Musk and Chairman Lee have met in particular person. Based on The Korea Herald, Samsung co-CEO Kyung Kye-hyun and foundry enterprise chief Choi Si-young have been additionally readily available for the high-profile dialogue.

This isn’t to say Tesla and Samsung do not have a historical past, nonetheless. The 2 corporations have been co-developing self-driving chips since 2019. Nevertheless, it seems the purpose right here could also be to spice up that relationship and take the know-how to the subsequent degree. Samsung is reportedly hoping to win Tesla over because the US EV maker can be eyeing Taiwan Semiconductor Manufacturing Co. as an choice going ahead.

Tesla wants to make sure that Samsung, an organization that has many different high-profile shoppers, can ramp up its efforts and make extra chips for the automaker. Samsung additionally manufactures superior chips for autonomous driving for corporations like Mobileye and Nvidia, each of which Tesla has labored with prior to now.

After a prolonged battle with provide chain points that resulted in a chip scarcity impacting your entire world auto trade, it is projected that the chip market is poised for large progress. Technique Analytics and Analysis and Markets suggests the sector can be valued at a whopping $400 billion in 2024 and $700 billion in 2028.

An nameless supply aware of the main points of the current assembly between Tesla and Samsung chiefs shared that there was dialogue about how the 2 may enhance their ranges of cooperation sooner or later. Furthermore, the purpose appeared to be combining forces to develop into apparent leaders in futuristic segments, similar to absolutely autonomous driving know-how.

The supply added that Samsung’s chairman additionally emphasised its future progress targets, which not solely included chip improvement, but additionally batteries, community providers, synthetic intelligence, and different associated ventures.