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Samsung Bets on China’s BYD for Growth

Samsung’s latest move comes as more technology companies tap into the automotive industry as it undergoes a shift toward next-generation vehicles such as electric and self-driving cars. Google parent Alphabet Inc. and Apple Inc. are accelerating efforts to develop electric cars of their own.

“This investment will strengthen our chip business for electric cars. We’ll continue to expand our partnership with BYD in various sectors,” Samsung said in a statement Friday.

It said that it has no intention of participating in the management of BYD, which is backed by Warren Buffett’s Berkshire Hathaway Inc.

In a regulatory filing to the Shenzhen Stock Exchange, BYD said...