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Samsung invests in electronics car company BYD

Samsung has invested some 3 billion yuan, 450 millionUSD, for a stake in the Chinese automaker BYD Co Ltd.
Reuters reports that Samsung has invested in a stake in the Chinese automaker and rechargeable batteries company BYD Co Ltd. The investment was done through the Samsung subsidiary Shanghai Samsung Semiconductor. Samsungs ownership amounts to some 1.92 percent.

This follows after last week when Samsung Electronics said they were talking to BYD about acquiring a stake in order to boost the automotive chip business, the report concludes.


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