After Apple , it seems that Samsung wants to enter the automotive industry, taking its first steps with the purchase of part of the company Magna Steyr.
Magna Steyr is a company that specializes in manufacturing batteries and assembles cars for other large companies, such as Audi, Fiat and Volkswagen, and was in contact with Apple to acquire its battery division, but it seems that Samsung ruined its plans...
In an official announcement by Samsung, the company acquired the Magna Steyr division that deals with the manufacture of batteries, with the aim of entering the automotive market, especially in the field of power supply, since the trend is electric cars.
The financial terms of the agreement have not been announced, while the acquisition is expected to be completed in the first half of 2015, subject to regulatory approval.
Source: newsit.gr
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