Asahi Kasei to Build EV Battery Plant in Canada to Supply Key Parts to Honda Motor 
New EU trade rules could put poor countries in a billion dollar ‘green squeeze’ 
Nestle Reports Sales Dip Amid Price Hikes 
How cuts to marginal income tax could boost the UK’s stagnant economic growth 
Boeing Experiences Quarterly Revenue Drop Amid Production Challenges, Beat Expectations 
New Study Reveals Coke, Pepsi, and Nestle as Top Plastic Polluters 
What if the Reserve Bank itself has been feeding inflation? An economist explains 
Supreme Court appears open to Starbucks’ claims in labor-organizing case 
The idea that US interest rates will stay higher for longer is probably wrong 
Volvo Cars Projects Robust Demand Despite Financial Hiccups in Q1 
How marketing classes can rescue ‘ugly produce’ from becoming food waste 
PUMA and Scuderia Ferrari HP Unveil Miami Limited Edition Collection 
China’s new world order: looking for clues from Xi’s recent meetings with foreign leaders 
Industrialisation is still vital to economic development but some countries are struggling to reap its benefits 
Mercedes-Benz to Release Luxury Electric Van in China 
Tesla Nears FSD Licensing Deal with Major Automaker, Hits 1.3 Billion Milestone 
Samsung Electro-Mechanics has won a deal to supply camera modules to Tesla. The said item is a key part of the production of the EV maker's electric trucks.
Samsung Electro-Mechanics is a subsidiary of the Samsung Group, and it specializes in the production of electronic components. It mostly makes chip parts, including MLCCs, camera modules, printed circuit boards, semiconductor substrates, and network modules, and it will be supplying some parts to Elon Musk's owned electric vehicle company, which is Tesla.
Samsung's contract for the parts supply to Tesla was confirmed on Wednesday, June 8. It was reported that the company was competing with bigger rivals for the deal and successfully beat LG Innotek in the quest to be Tesla's sole supplier of camera modules for its electric truck Semi and Cybertruck, which have yet to be released.
Earlier this year, Tesla's chief executive officer revealed that these two new models are set to be launched next year. As per Yonhap News Agency, the value of Samsung Electro-Mechanics' contract with the American EV maker was not immediately known.
Samsung will be delivering the camera modules to Tesla's Gigafactories located in Berlin, Germany and Shanghai, China. Aside from Samsung, LG is the other major provider of vehicle parts for Tesla. Prior to this new contract, the company also won the deal for orders of camera modules for Tesla's electric trucks last year, and it was valued at KRW490 billion or around $389 million.
The Korea Economic Daily reported that the Samsung Electro-Mechanics will provide Tesla with Samsung's version 4.0 camera modules, which feature five million pixels. This will offer images that are five times clearer compared to the previous 3.0 modules.
The Korean firm will start mass-producing the said component as early as July of this year to make sure it will have enough items to deliver. Meanwhile, this deal is reportedly Samsung Electro-Mechanics' largest single contract ever, and it has now become Tesla's largest supplier of camera modules as well. Aside from the Semi and Cybertruck, the camera modules may also be installed on Tesla's Model 3 sedan, Model S, Model Y crossover, and Model X SUV.
