# LG Electronics and Magna to form $1B joint venture for EV parts

LG Electronics agreed to invest $1 billion with Magna International to form a joint venture, LG Magna e-Powertrain, to produce electric car parts such as motors, inverters, and chargers. Magna will buy 49% for $453 million, and production is expected to start in Q2 2021.

- Type: Acquisition
- Announced: 2020-12-23
- Where: South Korea and China, South Korea
- Value: $1.00B
- Status: announced
- Products: electric motors, inverters, vehicle chargers
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Magna International](https://endata.com/companies/2534.md) (partner)
- [LG Electronics](https://endata.com/companies/11457.md) (partner)

## Sources

- [news.metal.com](https://news.metal.com/newscontent/101353641/south-koreas-lg-plans-to-set-up-a-1-billion-joint-venture-with-magna-to-produce-electric-car-parts), 2020-12-24: "South Korea's LG Electronics announced on Wednesday that it has agreed to invest $1 billion with auto parts giant Magna International to form a joint venture to produce electric car parts at factories in South Korea and China."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.