Samsung Electronics to buy new BYD shares for $449 million

South Korean electronics giant Samsung Electronics Co Ltd has agreed to buy new shares worth 3 billion yuan ($449.10 million) in Chinese automaker and electric vehicle battery maker BYD, Korea Economic Daily reported on Friday.

With the investment, Samsung Electronics has secured a 4 percent stake in BYD, which is also backed by Warren Buffett's Berkshire Hathaway Inc, the newspaper said.

A Samsung Electronics representative declined to comment.