SEOUL Jan 23 Samsung SDI said on
Thursday that it had signed a preliminary deal to build an
electric car battery factory in China by next year, betting on
the growth potential of the country's electric car market.
South Korea's Samsung SDI also said it will form a joint
venture by April this year to invest a total of $600 million in
the factory and other electric car battery businesses over the
next five years. Samsung SDI said the joint venture consists of
Chinese parts maker Anqing Ring New Group and an unidentified
company owned by China's Shaanxi province.
(Reporting by Hyunjoo Jin; Editing by Michael Perry)