23 Feb '15, 6pm

Samsung SDI to acquire Magna International’s automotive battery pack business

Samsung SDI to acquire Magna International’s automotive battery pack business 23 February 2015 Samsung SDI has agreed to acquire the battery pack business of Magna International, a leading global automotive supplier. Samsung SDI expects the acquisition to enhance its capabilities in batteries for electric vehicles by combining the company’s established position in battery cells and modules with Magna’s expertise in battery packs. Samsung SDI also said that Magna’s technology and experience in providing global automakers with battery packs will help it secure customers in the fast-growing automotive battery markets in Europe, North America and China. The acquisition is a key strategic step for Samsung SDI to strengthen the competitiveness of our automotive battery business. It will provide new momentum to expand our business and customer base. —Namseong Cho, President and C...

Full article: http://www.greencarcongress.com/2015/02/20150223-samsung....

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