Samsung SDI Buys Battery-Pack Business From Magna

Cameron Aubernon
by Cameron Aubernon
samsung sdi buys battery pack business from magna

Digging further into the auto-parts game, Samsung SDI announced it would buy Magna International’s battery-pack business.

Reuters reports the subsidiary of the South Korean chaebol, which makes packs for the BMW i3 and i8, is bringing the entirety of Magna subsidiary Magna Steyr’s battery-pack production unit into the fold, including all 264 employees, and production and development sites.

Per Samsung SDI President and CEO Nameseong Cho, the move “will provide new momentum to expand our business and customer base,” including those in Europe, North America and China.

The value of the deal between the two parties was not made public, and the deal will be completed in Q1 2015 pending regulatory approval.

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  • Corey Lewis Corey Lewis on Feb 25, 2015

    This means some of the Magna tech will likely make its way into Nissans in the not too distant future. Also, cool pic! Bit odd to see a Korean sponsor on a German car. Especially when there are Samsung branded cars (though nothing suitable for a touring car race). Finally, a question. The front plate, I

  • XxDrunkMikexx XxDrunkMikexx on Feb 25, 2015

    I personally find this hilarious considering the dumpster fire that was SB-LiMotive (Samsung SDI / Bosch Joint Venture)... Very few of the OEMs are trusting 3rd parties to be responsible for pack integration these days.... Further, all of the real Pack Integration and BMS (Battery Management System) talent has since moved on to other parts of Manga or have left entirely.... This move by SDI is a giant waste of money and about 5 years too late.

  • Dougjp Dougjp on Feb 25, 2015

    What the ---- is a DTM Racing BMW picture doing in this article? Have the "wheels fallen off" at TTAC?