UPDATED. 2022-05-20 19:03 (금)
LG approves plan to split-off powertrain business
LG approves plan to split-off powertrain business
  • Stan Lee
  • 승인 2021.03.25 02:47
  • 댓글 0
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For JV with Magna
Image: TheElec
Image: TheElec

LG Electronics on Wednesday approved the motion to split off its powertrain business to form a joint venture with Magna International at a shareholders’ meeting.

The new subsidiary, called LG Magna E-Powertrain, will be formed on July. Manga will buy a 49% stake in the company.

The pair announced the plan for the joint venture last year.

They will spend around US$1 billion into the joint venture, they said at the time.

LG also approved its dividend plan for 1,200 won per ordinary share and 1,250 won per preferred share.


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