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Samsung invests $450mn in Chinese auto firm
short by Rahul Raj / on 21 Jul 2016,Thursday
Samsung Electronics invested $450 million for a 1.92% stake in Chinese car manufacturing firm BYD on Friday, making it the ninth largest investor in the company. The company said Samsung's investment will initially go into growth of battery production and R&D of new-energy vehicles. BYD makes gas-powered, hybrid and electric vehicles, solar panelling and rechargeable batteries.
short by Rahul Raj / 11:39 pm on 21 Jul
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