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“The Buzz” Show: Magna International Inc. Announces Joint Venture with LG

Magna International Inc. (NYSE: MGA) shot up over 11% in premarket trading after the company announced its joint venture with LG.

The companies will now seek to manufacture e-motors, inverters and on board chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification.

Magna is a mobility technology company with more than 157,000 entrepreneurial-minded employees and 344 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. They have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Magna also has electronic and software capabilities across many of these areas.

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