Samsung Is Reportedly Going to Start Supplying Chips to Tesla

December 9, 2016, 8:41 AM UTC
Samsung Profit Increases Sevenfold On Chip Prices
Samsung Electronics Co.'s 2 GB Double-Data-Rate (DDR) modules with memory chips are arranged for a photograph at an electronic store in Seoul, South Korea, on Tuesday, April 6, 2010. Samsung Electronics Co., Asia's biggest maker of chips, flat screens and mobile phones, said first-quarter profit increased sevenfold after demand for personal computers and televisions drove up prices. Photographer: SeongJoon Cho/Bloomberg via Getty Images
SeongJoon Cho/Bloomberg via Getty Images

Samsung Electronics (SSNLF) will supply semiconductors to U.S. electric car maker Tesla Motors (TSLA), South Korea’s Electronic Times reported on Friday citing unnamed sources.

Samsung would contract manufacture chips for self-driving features in Tesla vehicles, the paper reported, without putting a value on the order.

The South Korean firm has been trying to build auto-related sales for components such as semiconductors and displays in a push to develop a new growth engine. Samsung in November said it would acquire Harman International Industries (HAR) for $8 billion in a bid to grow quickly in the automotive market.

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Samsung did not immediately comment on the report, while Tesla could not be immediately reached for comment.