Go to Contents Go to Navigation

SK buys stake in BYD's chip unit

Industry 16:00 June 16, 2020

SEOUL, June 16 (Yonhap) -- SK Group, South Korea's third-largest conglomerate, said Tuesday it has secured a stake in a chipmaking unit of China's largest electric vehicle (EV) producer BYD.

SK China Co., one of the group's China-based affiliates, acquired a 1.47 percent stake in BYD Semiconductor for 150 million yuan (US$21 million).

BYD Semiconductor, which manufactures automobile sensor chips, recently announced it has raised a total 2.7 billion yuan, following its spin-off from BYD.

SK China is one of the major investors in BYD Semiconductor. The list of investors includes British chip designer ARM, Chinese smartphone maker Xiaomi, and chipmaker SMIC.

SK Group has been trying to expand its presence in the future mobility sector. Its refining and chemical unit, SK Innovation Co., currently produces EV batteries, while telecom affiliate SK Telecom Co. has been working on autonomous driving solutions.

The group also owns South Korea's second-largest memory chip maker SK hynix Inc.

This photo, taken on May 6, 2020, shows the corporate logo of SK Group at its office building in Seoul. (Yonhap)

kdon@yna.co.kr
(END)

Keywords
HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!