Samsung SDI will end its partnership with Germany's Robert Bosch, it said Wednesday. Samsung will take over the car parts manufacturer's entire share in SB LiMotive for US$57 million.
Samsung and Bosch joined hands to establish the joint venture producing electric vehicle batteries, with equal investment in 2008.
The takeover will help Samsung make headway in the electric car battery business that is growing at a rapid pace, a Samsung staffer said. The partnership reportedly went sour when Bosch asked Samsung to transfer battery technology.