Seoul, Dec. 31 -- Samsung Electronics is now providing automotive semiconductors for the new BMW AG's next-generation electric vehicle (EV), the iX3. The move helps the South Korean company grow its business by expanding its chip business beyond memory into logic design and foundry-related services.

As per a report by Pulse, the English service of Maeil Business News Korea, the new BMW iX3 is a medium-sized electric SUV. It is the first car made in large numbers to use BMW's new electric system called Neue Klasse. This vehicle was first shown to the public in Germany and will start selling in South Korea during the second half of next year.

Samsung created a specific chip for this car called the Exynos Auto V720. These types of chips ma...