# LG Electronics and Magna International to form EV powertrain joint venture in July

LG Electronics and Magna International will launch a joint venture, LG Magna e-Powertrain Co., in July 2021, with LG holding 51% and Magna 49%, based on a $1 billion investment plan.

- Type: Acquisition
- Announced: 2021-03-24
- Value: $1.00B
- Status: announced
- Products: EV powertrain systems
- 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

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/english/9801755), 2021-03-24: "The JV formally takes off in July."

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