Apple Reportedly To Join Hands With LG-Magna For It’s Self-driven EV

Apple’s rumoured pact with Hyundai for the former’s self-driven EV for 2024 was just that -- a rumour. But now, reports from Korea suggest that another name has entered the fray -- a joint venture between LG Electronics and Canada-based Magna International, tentatively called LG Magna e-Powertrain.   

The report states, ‘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’. That said, you might want to take this with a pinch of salt as LG officials have declined to comment on these reports.

For those wondering how LG came into the picture, the company has had prior experience supplying motors, battery packs, and other components to Tesla and General Motors. Likewise, Magna International’s expertise will count for much, considering they make chassis as well as entire vehicles. The financials for this joint venture are expected to finalise in July. 

If this tie-up does come to fruition, Apple can avoid a lot of the EV’s manufacturing costs. Instead, it can then focus its resources on the required software and technology. Apple’s EV will reportedly utilise a ‘monocell battery’ design, which could bulk up the individual battery cells and help with a longer range. 

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Amid all this hullabaloo, remember that Apple and LG have yet to comment on these reports. Here’s hoping it doesn’t go south again like it did with Hyundai.  

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