SEOUL, March 25 (AJP) - Samsung Electronics Chairman Lee Jae-yong visited the headquarters of Chinese electric vehicle maker BYD in Shenzhen on Monday, stepping up his recent outreach in China just days after meeting with Xiaomi founder Lei Jun.
BYD Chairman Wang Chuanfu personally welcomed Lee at the company’s offices, a BYD spokesperson confirmed, though declined to elaborate on their discussions.
The visit highlights the growing strategic interest between the world’s largest electric vehicle manufacturer and one of the globe’s leading chipmakers.
BYD, which overtook Tesla in global EV sales last year, officially entered the South Korean market in January and has been accelerating its global expansion.
Analysts say the two companies have ample room for collaboration, especially as electric vehicles require a significantly higher number of semiconductor components compared to traditional combustion engine cars.
“There are many business cooperation opportunities between BYD and Samsung because so many semiconductors go into electric vehicles,” said one industry source, speaking on condition of anonymity. “Collaboration could span everything from power management chips to advanced semiconductors that improve energy efficiency.”
Lee’s visit marks his second trip to Shenzhen since 2018, when he also met with executives from BYD and Tencent.
Samsung previously invested approximately 530 billion won (about $360 million) in BYD in 2016, aiming to collaborate on automotive chips and electric vehicle batteries. That stake was sold in 2023 following limited progress.
Now, with BYD rising as a dominant force in global EV markets and Samsung seeking to bolster demand for its chips across sectors, the potential for renewed strategic alignment is drawing fresh interest.
Analysts point to additional synergies with Samsung subsidiaries, including Harman (automotive technology), Samsung Display (vehicle screens), and Samsung SDI (batteries).
“Samsung needs anchor customers to drive its semiconductor business forward, and BYD could be one of them,” said a South Korean industry analyst. “This is a calculated move by Lee to rekindle old ties at a time when the EV market is becoming more critical to Samsung’s future.”
reporter
Candice Kim
candicekim1121@ajupress.com
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