Apple to sign with LG Magna to produce electric car – report

The much-rumoured Apple car may be produced by LG Magna e-Powertrain. The two companies are said to be close to finalising an agreement to build Apple's first car, according to a new report from newspaper The Korea Times. Announced in December 2020, LG Magna e-Powertrain is the joint venture between Korean tech giant LG Electronics and the large Canadian automotive company Magna. Despite being only months old, the company is estimated to be valued at US$1 billion (AU$1.3B).