Samsung SDI Acquires Austrian Battery Maker MSBS
SEOUL, South-Korea – Samsung SDI – as global leader in battery cells and modules – has acquired the battery pack business of Canadian Magna International Inc. – the 4th-largest automotive parts manufacturer in the world.
On 23 February South-Korean Samsung SDI announced that it has signed an agreement with Magna Steyr to take over this company’s entire battery business unit named Magna Steyr Battery Systems GmbH & Co. OG (MSBS). This is subsidiary of Magna Steyr, the Austria-based operation of Magna International.
The transaction includes all 264 employees, production and development sites in Zettling, Austria, as well as all MSBS shares. Financial terms of the deal were not disclosed. According to reports in Korea, “The deal is expected to enable Samsung SDI to complete an integrated electric car battery business system from cells to modules to packs.”
It’s said that Apple was also eyeing MSBS. In particular as the US giant showed an interest in developing an e-car (like Google).
Canadian Magna International is involved in the e-bike business. In 2008 Magna Marque – the aftermarket product subsidiary of Magna International – acquired Quebec-based e-bike drive train maker EPS Energy Propulsion Systems Inc. with its BionX brand.