China's BYD (NYSE:BYD) acquires SinoMOS Semiconductor assets for 200 mln yuan - report

Chinese battery maker BYD Co (NYSE:BYD) has acquired the assets of local wafer maker SinoMOS Semiconductor (Ningbo) Inc for 200 mln yuan, the official Shanghai Securities News reported.

Wang Jianjun, vice president of BYD, was quoted as saying that the acquisition will help Shenzhen-based BYD accelerate the commercialization of its electric cars.

Zhejiang-based SinoMOS Semiconductor (Ningbo) Inc is in liquidation and no longer operating but it has research and other assets. It has registered capital of 100 mln usd.

Last month, BYD sold a 10 pct stake for 230 mln usd to US investor Warren Buffett.

(1 usd = 6.80 yuan)