Mexican Media Brands
Samsung Eyes Investment in China’s BYD
Samsung Electronics Co. is in talks with BYD Co. about buying a small stake in the Chinese carmaker, the two companies announced over the weekend.
#electronics
Share
Samsung Electronics Co. is in talks with BYD Co. about buying a small stake in the Chinese carmaker, the two companies announced over the weekend.
The discussions involve potential partnerships in “various sectors,” Samsung says. But it notes that the primary focus is on BYD’s growing presence in China’s emerging electric vehicle market.
BYD sold a combined 58,000 electric and plug-in hybrid vehicles last year and expects to more than double that total this year. Samsung hopes to supply semiconductors and lithium-ion batteries to BYD’s EVs. The South Korean company is the largest semiconductor supplier in the world, but it has struggled to make inroads in the auto industry.
Some initial reports suggested Samsung may invest as much as $450 million in BYD for a 4% stake in the company. BYD says that estimate isn't accurate but has not provided further clarification.
RELATED CONTENT
-
About the 2019 Toyota RAV4
Last year Buick sold 219,231 vehicles in the U.S.
-
Honda Re-Imagines and Re-Engineers the Ridgeline
When Honda announced the first-generation Ridgeline in 2005, it opened the press release describing the vehicle: “The Honda Ridgeline re-defines what a truck can be with its true half-ton bed payload capability, an interior similar to a full-size truck and the exterior length of a compact truck.” And all that said, people simply couldn’t get over the way there is a diagonal piece, a sail-shaped buttress, between the cab and the box.
-
2019 Mazda3 Sedan Premium FWD
As Mazda pivots to “premium,” it is doing more than just talking about it, as the new Mazda3 proves.