# LG Electronics and Magna to form joint venture LG Magna e-Powertrain

LG Electronics and Magna International will establish a joint venture, LG Magna e-Powertrain, with an investment of US$1 billion to produce electric motors, inverters and on-board chargers for electric vehicles. LG will own 49% and Magna 51%.

- Type: Partnership
- Announced: 2024-01-15
- Value: $1.00B
- Jobs: 1,000
- Status: announced
- Products: electric motors, inverters, on-board chargers
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

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

## Sources

- [haythink.com](https://www.haythink.com/lg-and-magna-set-up-a-joint-venture-to-produce-core-components-for-electric-vehicles-electric-motors-and-inverters/), 2024-01-15: "LG Electronics and automotive supplier Magna International will establish a joint venture, tentatively named LG Magna e-Powertrain, with an investment of US$1 billion to produce electric motors, inverters and on-board chargers."

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