Samsung Electronics Co Ltd said on Friday it is in talks to buy a stake in Chinese electric-vehicle manufacturer BYD Co Ltd, but has not finalized¹ how much it would spend.

 

三星电子有限公司上周五表示，该公司正在于中国电动汽车生产商比亚迪股份有限公司进行股份认购会谈，但并未决定具体出资额。

 

The South Korean giant said the investment aimed at strengthening cooperation between the two companies on electric-vehicle components² and smartphone components.

 

It said details about the size of the investment will be disclosed when they are confirmed.

 

Samsung said it will not participate in BYD's existing operations, but the two sides plan to discuss cooperation in businesses going forward.

 

The Korea Economic Daily reported on Friday that Samsung had agreed to buy a 4 percent stake for 3 billion yuan ($449 million) in BYD.

 

BYD issued a statement on Friday, confirming Samsung had participated in a nonpublic share issuance, without disclosing the amount of the investment because the offering was still in progress.

 

However, it denied the report that Samsung will buy a 4 percent stake. It said the two companies will promote automotive-related businesses in the future.

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