Samsung already has a team working on self-driving cars and other automotive technology, but the company could be closing in on a deal to give it a strong foothold in the industry. Bloomberg reports that the South Korean giant is set to acquire a part, or possibly all, of Fiat Chrysler subsidiary Magneti Marelli.
The deal will reportedly focus on lighting, in-car entertainment and telematics, but Samsung could also end up buying the entire firm for about $3 billion. Samsung and Fiat will reportedly finalize the agreement before the end of the year, giving the Galaxy-maker a new market to explore.
The acquisition should help position the company for future growth as the market for electric vehicles continues to grow and autonomous cars begin to take off.