Samsung SDI took over the world’s largest electric car battery pack maker MSBS on February 23 as a part of its efforts to better cope with the increasing demand for electric cars.
Samsung SDI expects this acquisition to contribute to solidifying its presence further in the electric car battery market where it competes with LG Chemical, Panasonic and Sony.
On the same day, Samsung SDI announced that it signed a deal to acquire a 100 percent stake in MSBS, an electric car battery pack subsidiary of Canada’s auto parts maker Magna International.
Under this deal, Samsung SDI is set to acquire all of MSBS assets, including personnel, production facilities, and the orders MSBS won before. The value of this deal is estimated at around 100 billion won. MSBS is scheduled to be incorporated as a subsidiary of Samsung SDI on April 1.
MSBS, headquartered in Austria, has the largest market share in the global electric car battery pack market.Source: The Korea Economic Daily