Canada’s Magna International and LG Electronics announced a joint venture late last year, forming a new company named LG Magna e-Powertrain. The partnership was an attempt to leverage the strengths of each of the companies to support the global shift towards electric vehicles (EVs).
According to a report from The Korea Times, LG Magna e-Powertrain could land a big job soon. Sources who spoke with the publication said the company is “very near” to signing a contract with Apple to manufacture the first Apple Cars.
“LG Magna e-Powertrain is very near to signing contracts with Apple under which they could handle the initial volume production of Apple EVs. Contract details are still being discussed,” a source told The Korea Times.
The report states production volume wouldn’t be substantial. Instead the partnership will be used to build the first-generation vehicles as an opportunity to evaluate their marketability.
This report should be taking with a large grain of salt. There were similar reports last year that the tech giant was discussing the Apple Car with both Hyundai and Kia, neither of which resulted in a deal.