Samsung's Executive Chairman, J.Y. Lee, and Tesla's CEO, Elon Musk, reportedly met in the US last week to discuss the possibility of collaborating on developing chips for fully autonomous vehicles, among other things. The meeting is said to have taken place at Samsung's semiconductor research center in Silicon Valley on Wednesday, and it marks the first private meeting between the two business executives.
According to industry insiders cited by Yonhap News Agency, the global market for automotive chips is expected to grow to $400 billion by 2024 and to $700 billion by 2028. This presents a lucrative opportunity for both Samsung and Tesla, as they seek to expand their presence in the autonomous vehicle market.
Lee's visit to the US reportedly included meetings with other business leaders, including Microsoft's CEO, Satya Nadella, and Google's CEO, Sundar Pichai. The talks with Musk, however, appear to have focused specifically on potential collaboration in the automotive chip industry.
Although neither company has confirmed any official partnership, the meeting between Lee and Musk suggests that both Samsung and Tesla are exploring opportunities to work together on cutting-edge technology. With the demand for autonomous vehicles continuing to rise, this could be the start of a significant development in the automotive industry.