Jun 21, 2021ACQUISITIONIncheon, South Korea LG Electronics and Magna to establish LG Magna e-Powertrain joint venture
LG Electronics will spin off its EV powertrain operations into a new joint venture, LG Magna e-Powertrain Company, on 1 July 2021. Magna International will acquire a 49% stake for $453 million. The venture will be based in South Korea with subsidiaries in Nanjing, China and Michigan, USA.
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“LG is scheduled to spin off its EV powertrain operations into the new company on 1 July with Magna set to acquire a 49% stake for US$453m on the same day.”just-auto.com
- 4 sources
- just-auto.comLG Magna e-Powertrain Company to be established on 1 July - Just AutoGraeme RobertsJun 21, 2021
- thelec.netLG and Magna’s joint venture has rocky start < IT·Gaming < 기사본문 - The Elec Inc.Yang Tae HoonJul 27, 2021
- businesskorea.co.krLG Electronics Sells 49% Stake in LG Magna e-Powertrain to Magna International - BusinesskoreaKim Eun-jinJul 29, 2021
- economx.huVillanymotorgyártásban fuzionál az LG és a Magna | EconomxSzabó DánielAug 5, 2021
Summarized from public sources; check the original articles before acting on it.
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