...If profits are anything to go by – and they are because they fund the highest levels of R&D, salaries, finest acquisitions plus the right factories in the right countries – then Samsung leaves most old-school car makers looking like cottage industries scratching to earn a living. A 17 per cent year-on-year hike in annual profits to almost $20billion puts it among the world’s top 10 firms.
On its own, Samsung was about as profitable last year as Ford, Renault, Hyundai and the VW Group combined. It’s rich enough to become more of a major EV player and now has the will, plus the technical capabilities, to go deep down the auto road. If it can do state-of-the-art aircraft, military vehicles and globally significant consumer products, it can certainly do driverless or driveable electric cars and trucks. Samsung vehicles or vehicle tech are set to become as much a part of our lives as its other devices, such as smartphones...
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