Ferrari partners with Samsung to develop in-car displays

Italian supercar maker Ferrari (NYSE:RACE) said on Tuesday it had signed a deal with Samsung (KS:005930) Display to use its organic light-emitting diode (OLED) display panels in future car models.

The South Korean company will develop “bespoke OLED technology display solutions” for the next generation of Ferraris, Chief Executive Benedetto Vigna said in a statement.

The heads of Ferrari and Samsung Display signed a memorandum of understanding in Asan, South Korea, for which no financial details were disclosed.

Vigna has previously said that as Ferrari is focusing investment on electrification, the company would use external suppliers for non-crucial components or software.

Ferrari plans to unveil its first fully electric car in 2025.

Samsung Display, which plans to invest more than 3 billion dollars on the manufacturing of OLED panels in Asan, is a unit of Samsung Electronics (OTC:SSNLF).

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