South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
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.
