# LG Electronics and Magna International form joint venture LG Magna e-Powertrain

LG Electronics and Magna International announced a joint venture named LG Magna e-Powertrain, with a $1 billion investment. LG will hold 51% and Magna 49%. The JV, headquartered in Incheon, South Korea, will produce electric motors, inverters, integrated chargers, and e-axles, and is expected to employ about 1,000 people across South Korea, the US, and China. The JV is expected to formally launch in July 2021, pending shareholder approval.

- Type: Acquisition
- Announced: 2020-12-27
- Where: Incheon, South Korea, South Korea
- Value: $1.00B
- Jobs: 1,000
- Status: announced
- Products: electric motors, inverters, integrated chargers, e-axles
- 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

- [digiato.com](https://digiato.com/article/2020/12/27/%d8%b3%d8%b1%d9%85%d8%a7%db%8c%d9%87%e2%80%8c%da%af%d8%b0%d8%a7%d8%b1%db%8c-1-%d9%85%db%8c%d9%84%db%8c%d8%a7%d8%b1%d8%af-%d8%af%d9%84%d8%a7%d8%b1%db%8c-%d8%a7%d9%84-%d8%ac%db%8c-%d9%88-%d9%85%da%af), 2020-12-27: "دو کمپانی مگنا اینترنشنال و ال جی اخیرا با انتشار بیانیه‌ای از تاسیس یک شرکت مشترک (Joint Venture) با نام LG Magna e-Powertrain خبر داده‌اند."

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