samsung EV battery

Samsung Look To Strengthen Their Hold On Car Battery Packs By Purchasing Magna Steyr

February 23, 2015 - Written By John Anon

Samsung is not a company to miss-a-trick. In fact, they are normally more accredited with being a company who are generally ahead of the curve, in terms of where technology is going. Although, recent reports have commented on what seems to be a ‘stagnation’ of Samsung mobile products, the mobile division is only one aspect of the Samsung global company. Besides making devices for most areas of your life, Samsung is also quite adept at securing profitable and necessary component element industries. Prime examples of this, is that Samsung are known for making their own Li-ion batteries as part of their Samsung SDI arm. Not to mention, Samsung were one of the early adopters in ensuring devices were powered using their memory chips and processors.

Well, it seems the electric car world is not that far out of their sights either. It is already known that Samsung have recently renewed a contract with BMW to continue producing batteries for BMW’s i3 and i8 electric cars. Not to mention, they are due to be providing Tesla with a number of their batteries this year too. Well, as an extension of this particular industry, Samsung today have confirmed that they have purchased Magna Steyr, which is the battery pack division of Magna International.

This acquisition might not come as too much of a surprise to those familiar with electric cars (as Magna is one of the largest car part suppliers in North America). As such, acquiring the battery pack division seems like a logical step for anyone interested in cemented their position within the electric car sphere. And especially within the worldwide market. According to Samsung’s press release on the matter “Magna’s advanced technology and experience in providing global automakers with battery packs will also help Samsung SDI secure customers in the fast-growing automotive battery markets in Europe, North America and China“. As for the details of the acquisition, these are undisclosed and seem to be remaining that way with no details provided on how much the purchase will cost Samsung. Although, Samsung have confirmed they will be taking over all the employees and production and manufacturing sites. Probably most importantly, Samsung also confirmed they will be taking over all existing contracts. You can read the full release by clicking the source link below.