Samsung Electronics Chairman Meets Elon Musk, Seeks Direction for Automotive Chips

The meeting took place at Samsung's semiconductor research center in Silicon Valley, seeking resources to participate in developing chips for fully autonomous vehicles and other technologies.

The meeting between two "powerful" men in the technology world promises to create a "revolution" in the field of car chips.

The global automotive microprocessor market is expected to grow to $400 billion by 2024 and jump to $700 billion by 2028, Yonhap reported, citing data from Strategy Analytics and Research & Markets.

Samsung's top executive wrapped up a 22-day visit to the United States last weekend, following a series of meetings with business leaders, including Microsoft CEO Satya Nadella and Google CEO Sundar Pichai.

Yonhap also said that this was the first time Samsung CEO had a private meeting with Tesla CEO Elon Musk.

Mr. JY Lee officially became the head of Korea's largest conglomerate in October last year, but in reality, "crown prince" Lee had long held executive power as Vice Chairman and was scheduled to be appointed after his father, Chairman Lee Kun-hee, passed away in 2020.

However, the process of formalizing the title had to be postponed due to Mr. Lee being entangled in allegations of bribery and stock market manipulation, before Samsung's powerful leader received a pardon from the South Korean President.

According to Vietnamnet