Samsung in Talks to Buy Fiat’s Magneti Marelli
A new Bloomberg report suggests Samsung is in talks with Fiat Chrysler to acquire some or all of parts-making subsidiary Magneti Marelli, which provides lighting, in-car entertainment and telematics to OEMs for use in their vehicles.
The deal, which could be worth $3 billion according to Bloomberg’s sources, would help accelerate Samsung’s existing efforts to become a more important part of the automotive supply chain.
Samsung has an internal team working on in-car infotainment tech, vehicle components and autonomous driving systems, and it invested in China’s homegrown electric auto company BYD Co. An acquisition at this level could be a big shortcut to broader presence in the industry.
While other tech giants including Samsung’s chief rival Apple have been pegged as making big bets on cars as an important center of future high-tech industry, Samsung’s efforts on that front have been relatively low-key. It’s a safe bet that even beyond this sizeable acquisition, however, the smartphone leader is deeply considering its automotive options.