Samsung buys business Magna Steyr for production of batteries for vehicles

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POSTER: computer news   ||   SAMSUNG BUYS BUSINESS MAGNA STEYR FOR PRODUCTION OF BATTERIES FOR VEHICLES	DATE:2015-02-24
As the popularity of hybrid and electric vehicles are increasing demand for traction batteries is growing, and here manufacturers of batteries for mobile electronics are winners.  Firstly, many hybrids and electric traction batteries use standard lithium-ion cells that are also used in laptops.  Secondly, due to lower demand for PCs new markets allow battery manufacturers to build optimistic plans for cooperation with automakers.  For example, the Japanese Panasonic is not only the largest supplier of batteries for electric Tesla, but also in conjunction with the last of the companies in the United States is building a factory to produce traction batteries. The Korean company Samsung  provides up to 8% of batteries for electric vehicles, Tesla, also supplies electric batteries and hybrids BMW (i3 and i8).  Secondly, unit Samsung SDI has agreed with Magna International, a major manufacturer of automotive components, purchase units Magna Steyr for production of car batteries.  According to representatives of Samsung, the deal will help the company strengthen its competence in creating traction batteries for hybrid and electric vehicles.  The staff of Samsung SDI will move 264 employees of relevant departments Magna Steyr.  In addition, the Koreans will get all the development, production facilities and contracts Magna, related to the production of batteries.  The transaction will be completed during the current half year, its financial terms were not disclosed. Related Products :

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