Magna

Samsung is making bigger moves into the electric vehicle (EV) realm with news that its “materials and energy” subsidiary Samsung SDI has acquired the battery pack division of Magna International, an automotive supplier based in Ontario, Canada. The Korean electronics giant is procuring the battery business from Magna Steyr, the Austria-based unit of Magna International, with more than 250 employees, all production sites, and contracts transferring over to Samsung SDI. DON'T MISS: Advances In Lithium-Sulfur Batteries Offer Promise For Electric Cars This isn’t Samsung’s...