Samsung Electronics Co. will soon be laying hands on the automotive industry as it has finally secured a consent from South Korean authorities to begin its first self-driving car test in the country.
The South Korean Ministry of Land, Infrastructure, and Transport issued a statement on 1 May, expressing that Samsung has been granted the green signal to test the self-driving vehicle manufactured by a South Korean car maker, which uses some of the electronic firm's components to make it autonomous.
Self-driving car test
The said vehicle is made by Hyundai and powered by Samsung's specially designed camera, computing systems, sensors, and artificial intelligence software. In a report published by Reuters, the company intends to use the car "to develop a self-driving algorithm capable of driving in adverse weather conditions."
Samsung has not released any official statement yet as to when and how exactly it is planning to carry out the testing. Apart from Samsung, 20 more firms have been granted similar permission to perform self-driving trials in South Korea.
Samsung and the car manufacturing industry
With this innovation in the car manufacturing industry beginning to unfold, Samsung is well-poised at its current position to reach out to its existing smartphones and television consumers, and eventually, expand its influence in the automotive sphere. But will Samsung ever cross the borders soon?
Samsung made it clear that it has "no plans" to venture into the multi-billion dollar car manufacturing industry. Forbes reports that Samsung's intentions to zero in on software are not far from believable.
This is the first time Samsung has entered the automotive industry, particularly the self-driving technology space, joining the ranks of Apple and Uber, among many other conglomerates.
Marketability of autonomous vehicles
Considering that Samsung is not the sole player to venture into this new market, the autonomous car trade is expected to become an ultra-lucrative business in the coming years. Around 2.5 million self-driving vehicles are expected to be shipped before 2025, Business Insider reports.
In the US, autonomous vehicles are expected to hit the streets by 2018. However, it remains uncertain for now as to how long it will take for people to embrace this technology and completely put their trust on it.