Samsung SDI has acquired Austria-based battery pack firm Magna Steyr. The move sees the South Korean company expand its portfolio of electric vehicle components, and raises questions of whether the company is eyeing an expansion into building its own electric cars.
Magna Steyr is part of Magna Internation, one of the largest automobile parts suppliers in North America. It comes as no surprise that Samsung SDI would be picking up the firm, as it has recently renewed its contract to supply battery packs to BMW for the i3 and i8 cars.
Interestingly, Apple had recently visited Magna Steyr to learn more about the construction of vehicles; news that fueled rumours that Cupertino was looking into building its own electric vehicles. However, it does not appear that Samsung is acquiring Magna Steyr to block any potential moves from Apple; mostly because nobody really knows what Tim Cook is up to.
ADVERTISEMENT
Samsung itself appears to be settling into its usual plan of owning entire supply chains, providing them with many customers beyond the general consumers. The firm already makes electronics components that feature in more devices that just its own smartphones, tablets, and other consumer products. Samsung SDI already manufactures a range of batteries and energy storage systems, and expanding with Magna Steyr looks to be part of a larger global expansion strategy.
That being said, it would not be surprising to see Samsung come up with an electric car for the global market. Considering that the company seems content to have its hands in everything from microprocessors to howitzers.
[Source: Samsung SDI]
Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news.
