Samsung Weighs Move Into Car Tech With Talks for Fiat Unit
#Samsung Said to Be in Talks With #Fiat Company most interested in lighting, entertainment, telematics Deal could be worth more than $3 billion, may close this year After Samsung Electronics Co.’s success in selling components for rivals’ smartphones, Vice Chairman Lee Jae Yong is considering a similar strategy for the world of automobiles. Samsung is in advanced talks to buy assets of auto-parts maker Magneti Marelli from Fiat Chrysler Automobiles NV, according to people familiar with the matter. It’s particularly interested in the lighting, in-car entertainment and telematics business and could consider an acquisition of the whole company, the people said, asking not to be identified as the discussions are private. Lee has pushed deeper into memory chips and displays to make Samsung less reliant on consumer electronics as he sold off assets and narrowed the scope of the conglomerate. A deal would position the 48-year-old, a director of Fiat Chrysler’s controlling shareholder Exor SpA since 2012, to further put his stamp on the South Korean giant and benefit from rising interest in cars from technology companies.