# LG and Magna to form $1 billion EV parts joint venture

LG Electronics will spin off part of its EV components business and form a $1 billion joint venture with Magna International, with LG holding 51% and Magna 49%.

- Type: Acquisition
- Announced: 2021-01-07
- Value: $1.00B
- Status: announced
- Products: electric vehicle components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

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

## Sources

- [drivingvisionnews.com](https://www.drivingvisionnews.com/news/2021/01/07/lg-magna-in-restructure-borne-joint-venture/), 2021-01-07: "LG Electronics will spin off part of their electric vehicle components business and set up a $1bn joint venture with Magna International"

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