LG Magna e-Powertrain

Magna International and LG Electronics have signed a joint venture agreement to establish LG Magna e-Powertrain, headquartered in Incheon, South Korea. The JV will develop electric-drive components including motors, inverters, and onboard chargers.

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.

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.