Electronics giant Samsung in talks to invest in Chinese electric car maker BYD
by The Associated Press
South Korean smartphone maker looking to carve out place for its semiconductors in increasingly-connected vehicles
SEOUL, South Korea—Samsung Electronics says it is in talks to buy shares of Chinese electric car maker BYD in the latest tech-auto collaboration.
The South Korean company said July 15 that the move is aimed at strengthening its burgeoning semiconductor business for vehicles.
The firm said it will disclose the size of the investment after finalizing the deal.
The move is the latest partnership between tech companies and auto firms as vehicles are revamped with connectivity and technology.
Samsung, the world’s largest maker of memory chips and smartphones, said the deal will also boost its components businesses for electric cars and smartphones.
The company said the talks with BYD will not affect supply deals of Samsung SDI, a lithium-ion battery supplier for electric vehicles.
