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Title : Samsung Sdi To Laid About Magna International’S Battery Pack Business
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Samsung Sdi To Laid About Magna International’S Battery Pack Business

Samsung SDI has agreed to pose virtually the battery pack push clitoris of slice of project scheme of Magna International, a leading global automotive supplier.

The acquisition is expected to lift Samsung SDI’s capabilities inwards batteries for electrical vehicles by times combining the company’s established leadership inwards battery cells together with modules alongside Magna's expertise inwards battery packs.

Magna’s advanced technology together with feel inwards providing global automakers alongside battery packs testament also help Samsung SDI secure customers inwards the fast-growing automotive battery markets inwards Europe, North America together with China.

"The acquisition is a key strategic stair for Samsung SDI to strengthen the competitiveness of our automotive battery business,” said Namseong Cho, President together with CEO of Samsung SDI. "It testament homecoming new momentum to expand our push clitoris of slice of project scheme together with client base.”

Under the agreement, Samsung SDI testament pose virtually the entire battery pack push clitoris of slice of project scheme from Magna Steyr, an Austria-based operating unit of measurement of measuring of Magna International, including all 264 employees, production together with development sites together with existing contracts of the business.

Financial harm of the create out testament not go disclosed. The transaction is expected to go completed during the get-go half of 2015, pending regulatory approvals.

The global marketplace pose for electrical vehicles, including hybrid together with plug-in hybrid models, is forecast to accomplish 7.7 million vehicles by times 2020, compared alongside 2.1 million inwards 2014, according to question firms B3 together with IHS.
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