LG Electronics and Magna International to launch EV powertrain joint venture

LG Electronics will spin off its green business to set up LG Magna e-Powertrain Co. on July 1, 2021, with Magna acquiring a 49% stake for $453 million. The joint venture will focus on electric vehicle powertrains.

“LG and Magna are expected to create a big synergy with the joint venture as the EV industry grows sharply.”koreaherald.com

• 1 source
• koreaherald.comLG, Magna in final phase to launch EV powertrain joint venture - The Korea HeraldYonhapJun 21, 2021

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