SEOUL (Reuters) - South Korean electronics giant Samsung Electronics (LON:0593xq) Co Ltd (KS:005930) said on Friday it has agreed to acquire a stake in Chinese automaker BYD (HK:1211) <002594.SZ> to enhance its electric car parts and smartphone component businesses.
Samsung Electronics said the amount of the investment had not been finalised.
It also downplayed market expectations that the partnership could enable affiliate Samsung SDI (KS:006400) to supply electric vehicle batteries to BYD.