LG Electronics and Magna in Canada Establish Electric Vehicle Joint Venture
[Asia Economy Reporter Changhwan Lee] Bloomberg News reported on the 23rd that LG Electronics will establish a joint venture with Canadian auto parts company Magna International to produce electric vehicle parts.
The news agency stated that the joint venture is valued at approximately $1 billion, with LG Electronics holding a 51% stake and Magna owning the remaining 49% stake.
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The joint venture is expected to manufacture electric vehicle motors, inverters, and other components in Incheon, Korea, and Nanjing, China.
This content was produced with the assistance of AI translation services.
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