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2021-04-13

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Magna Shares Spike, Company Reported To Be "Very Near" EV Contract With Apple

Shares of Canada-based mobility technology company and OEM Magna are spiking this morning on news th

Magna Shares Spike, Company Reported To Be "Very Near" EV Contract With Apple

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Shares were up about 5% in the pre-market session.</p><p><img src=\"https://static.tigerbbs.com/250068103e1d253e9a7d37c1b263667f\" tg-width=\"500\" tg-height=\"260\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1eaa5932feca6bf89741bca97e7a6b31\" tg-width=\"659\" tg-height=\"564\" referrerpolicy=\"no-referrer\"></p><p><b>\"LG Magna e-Powertrain is very near to signing contracts with Apple under which they could handle the initial volume production of Apple EVs.</b>Contract details are still being discussed,\"the report says. Apple is expected to produce a limited number of first gen EVs to evaluate their marketability.</p><p>\"Because LG Group affiliates including LG Display, LG Chem, LG Energy Solution and LG Innotek are already included in Apple's parts supply chain, Apple doesn't have to worry about any supply chain issues. These LG affiliate are qualified to guarantee production yields and faster delivery of parts needed for Apple EVs,\" a source told the Korea Times.</p><p>\"As the LG brand is not that strong in the global EV industry, it needs a pretty competitive reference to show off its transformation efforts. From that standpoint, LG's bet on the Apple EV is not that bad, and vice versa for Apple,\" a second source said.</p><p>A prototype is expected in early 2024.</p><p>And of course, there's the icing on the cake:</p><p><img src=\"https://static.tigerbbs.com/4d4ad6936cbe254f3bfef70e5f2a1383\" tg-width=\"463\" tg-height=\"429\" referrerpolicy=\"no-referrer\">In addition to Apple, should a contract be signed, Magnaalso sports names&nbsp;BMW, Honda, Hyundai, Volvo, Volkswagen and Toyota, among about 45 others, as OEM customers. To date, the stock has traded with a valuation consistent of other auto manufacturers...</p><p><img src=\"https://static.tigerbbs.com/280daf9bc511996342578e87c18aa49f\" tg-width=\"464\" tg-height=\"323\"></p><p>But could further positioning as an EV name, and a potential contract with arguably the most popular company in the world change that? It looks like the market may think so.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Magna Shares Spike, Company Reported To Be \"Very Near\" EV Contract With Apple</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMagna Shares Spike, Company Reported To Be \"Very Near\" EV Contract With Apple\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-13 22:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/magna-shares-spike-after-korea-times-reports-contract-tie-apple-very-near><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Canada-based mobility technology company and OEM Magna are spiking this morning on news that the company's joint venture with LG could be in line to produce Apple's electric vehicles.That ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/magna-shares-spike-after-korea-times-reports-contract-tie-apple-very-near\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MGA":"曼格纳国际","AAPL":"苹果"},"source_url":"https://www.zerohedge.com/markets/magna-shares-spike-after-korea-times-reports-contract-tie-apple-very-near","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117691635","content_text":"Shares of Canada-based mobility technology company and OEM Magna are spiking this morning on news that the company's joint venture with LG could be in line to produce Apple's electric vehicles.That joint venture  is \"very near\" to signing contracts with Apple,The Korea Times reported. Shares were up about 5% in the pre-market session.\"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,\"the report says. Apple is expected to produce a limited number of first gen EVs to evaluate their marketability.\"Because LG Group affiliates including LG Display, LG Chem, LG Energy Solution and LG Innotek are already included in Apple's parts supply chain, Apple doesn't have to worry about any supply chain issues. These LG affiliate are qualified to guarantee production yields and faster delivery of parts needed for Apple EVs,\" a source told the Korea Times.\"As the LG brand is not that strong in the global EV industry, it needs a pretty competitive reference to show off its transformation efforts. From that standpoint, LG's bet on the Apple EV is not that bad, and vice versa for Apple,\" a second source said.A prototype is expected in early 2024.And of course, there's the icing on the cake:In addition to Apple, should a contract be signed, Magnaalso sports names BMW, Honda, Hyundai, Volvo, Volkswagen and Toyota, among about 45 others, as OEM customers. To date, the stock has traded with a valuation consistent of other auto manufacturers...But could further positioning as an EV name, and a potential contract with arguably the most popular company in the world change that? 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