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LG and Magna sign joint venture agreement for e-powertrain · Endata

◂ Announcements

Jul 28, 2021PARTNERSHIPIncheon, South Korea, South Korea

LG and Magna sign joint venture agreement for e-powertrain

LG Electronics and Magna International signed a joint venture agreement to form LG Magna e-Powertrain, headquartered in Incheon, South Korea. The JV will manufacture e-motors, inverters and on-board chargers for electric vehicles.

Status

Announced

Productse-motorsinverterson-board chargerse-drive systems

CompaniesMagna International partner LG Electronics partner LG Magna e-Powertrain partner

Sectors#Automotive Components

“Partnering with Magna enables LG to scale-up its global production, provide additional business opportunities and offer synergies in procurement and technological innovation.”magna.com

1 source
magna.comNews Release - LG and Magna Sign Joint Venture Agreement and Announce Leadership TeamJul 28, 2021

Summarized from public sources; check the original articles before acting on it.

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Magna and LG form LG Magna e-Powertrain joint venture
LG Magna e-Powertrain Magna International partner autovista24.autovistagroup.com
Jul 23, 2021ACQUISITIONUnited States$3.80B
Magna to acquire Veoneer for $3.8B
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Jul 6, 2021NEW FACILITYnear Struga, North Macedonia, North Macedoniaops 2021
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Magna International autotechinsight.spglobal.com
Jun 22, 2021PARTNERSHIP
Magna and LG to launch EV powertrain joint venture in July 2021
Magna International partner LG Electronics partner autotechinsight.spglobal.com
Jun 21, 2021ACQUISITIONIncheon, South Korea$453.0M
LG Electronics and Magna to establish LG Magna e-Powertrain joint venture
LG Electronics Magna International acquirer just-auto.com thelec.net businesskorea.co.kr

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