The Samsung Group announced earlier this year that it has formed a new team . Samsung is also said to be interested in electric and smart cars, it has even modified a race track it owns . The company has already teamed up with SAP and SEAT to and has been actively to improve its position in the market. Samsung has now taken a sizeable stake in China’s largest electric vehicle manufacturer.
Samsung has confirmed that it has acquired a stake in BYD, China’s largest manufacturer of electric vehicles, however the company has not revealed the financial terms of this deal. Reports suggest that Samsung has invested 3 billion yuan ($449.10 million) in the company which gives it a 4 percent stake in the company. Samsung did say that this deal does not mean it’s going to participate in BYD’s management, the company sees its latest investment as a means to improve its partnership with BYD on automotive and smartphone parts. Samsung SDI is for electric cars but this deal is not linked to the conglomerate’s battery-making arm in any way.
Samsung has confirmed that it has acquired a stake in BYD, China’s largest manufacturer of electric vehicles, however the company has not revealed the financial terms of this deal. Reports suggest that Samsung has invested 3 billion yuan ($449.10 million) in the company which gives it a 4 percent stake in the company. Samsung did say that this deal does not mean it’s going to participate in BYD’s management, the company sees its latest investment as a means to improve its partnership with BYD on automotive and smartphone parts. Samsung SDI is for electric cars but this deal is not linked to the conglomerate’s battery-making arm in any way.