Samsung joint BYD to promote lithium battery development
Last month, BYD announced to un-publicate issued 0.252 billion stock unit price ￥57.4, raised fund for 14.473 billion RMB.
Among which, shanghai Samsung semi-conductive subscribe 52,264,480,000 stocks for 3billion, takes 1.92% of BYD total stock.
this announcement also released the raised fund will be put into lithium battery expansion project, new energy car development and supplement for working capital and pay back bank loans.
BYD also expressed, after this constant increment completed, lithium battery production ability will be quickly increased, which would serve much better for new energy car production.