The chief executive officer (CEO) of Magna International, which is the world's third-largest auto parts maker setting up a joint venture with LG Electronics for electric vehicle powertrain, officially said, "We are ready to manufacture Apple cars.".
According to foreign media on the 29th, Swami Kotagiri Magna, CEO, said at a recent Automotive Analysts Association event that "Magna is ready to manufacture Apple Cars."
"If the investment is guaranteed under the contract, we are also willing to build additional manufacturing plants in North America," he added. While Magna has been mentioned as a strong candidate for Apple Car production, the CEO expressed the strong possibility of partnership with Apple.
The industry believes that 'LG Magna ePower Train' is likely to become a major component supplier for Apple Cars.
LG Electronics approved the spin-off of electric vehicle powertrain business from VS business at a shareholders' meeting held on the 24th. The joint venture of LG and Magna will be officially launched in July.
Reporter Lee Ji-sun stockmk2020@gmail.com
