It seems evident that Samsung will not let other tech companies have an easy walk over in the automotive industry. The South Korean tech giant will now be following the footsteps of tech companies like Apple and Google for its share of the pie in the car business.
It has now been made public by the company that it is currently in negotiations for buying a stake in the Chinese electric car manufacturer BYD. The Korea Economic Daily has reported that the tech company will be acquiring 4 percent stake, but this claim has been denied by both Samsung as well as BYD.
The company hopes that the stake acquisition will serve to solidify the smartphones and electric vehicles parts businesses of the two companies. Further cooperation in other business areas is also a possibility.
It is widely believed that the stake buying by the tech giant is an important development in the prevalent trend of tech companies joining hands with the automakers for future automotive technology development. Rumours have it that electric vehicle batteries for BYD will now be supplied by Samsung, but the company has denied such claims.
We might also see a Samsung electric car in the near future.