Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) Hanah Choi Journalist = Samsung electronics announced that they had a conference regarding investment with Chinese company, BYD, which produces smartphone components and electric vehicles and will release investment accounts and stakes after finalizing negotiations.

Samsung electronics will not be involved in the management of BYD as the investment at this time is for consolidating the two companies' business partnership in electric vehicles and smartphone components.

Samsung electronics revealed,"the investment aims to bolster semiconductor business for electric vehicles that expects rapid growth through the partnership with BYD which is the world's largest electric vehicle maker."and"this is irrelevant to secure the investor of Samsung SDI's bettery supply."

NSP News Agency/NSP TV Hanah Choi Journalist, hana1914@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.