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Samsung SDI, a subsidiary of the Samsung Group, announced on Monday that it will acquire the Magna Steyr battery pack business of Magna International, the world's leading automotive supplier.
Magna Steyr is a Austrian manufacturer that assembles cars for Audi, Fiat, General Motors and Volkswagen. Magna Steyr also has other businesses, such as designing and manufacturing automotive components, including battery systems for electric vehicles. With Samsung's leading technology in the battery module market and Magna Steyr's expertise and experience in the battery pack market, the deal is expected to strengthen Samsung SDI's ability to produce electric vehicle batteries.
February 13, 2023
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February 13, 2023
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