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Samsung is buying a stake in Chinese auto maker BYD

As all companies look for new ways to make more money, Samsung is doing the same as they try to break into a part of the automotive field. With smartphone sales starting to peak, Samsung is looking in a different direction in order to help boot business.

The tech company is seeking to buy a stake in China electric carmaker BYD. The partnership is in hopes to boost the automakers chip business for electric cars. Samsung says the two will talk about possible partnerships in various businesses so this may mean the two companies could be working together more in the future.

No mention has been given about the stake Samsung has in the BYD automotive company but the South Korean tech company is sure to make profit if all goes according to the plan. As electric cars have been increasingly popular these days and is planned to be sustained for the foreseeable future, Samsung is setting themselves up with the possibility for supplying BYD with everything from batteries to processors for years to come.

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