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LG Magna e-Powertrain celebrates breakthroughs in Mexico’s new facility, Canadian Business Journal

South Korea, SEOUL, April 19, 2022 (GLOBE NEWSWIRE) — LG Magna e-Powertrain, a joint venture (JV) between LG Electronics (LG) and Magna International Inc. (Magna), is laying down a new plant in Ramos. Celebrated. Arizpe, Mexico. The new facility, expected to be completed in 2023, will produce inverters, motors, and car chargers to support the production of General Motors electric vehicles (EVs). The 260,000-square-foot factory will be the first production base for the LG Magna e-Powertrain in North America and is expected to create approximately 400 new jobs.

“The Ramos site, which enhances JV’s ability to develop and manufacture advanced EV subassemblies, is one of the key pillars of LG’s long-term strategy to become an innovative partner in the automotive industry,” said President Eun. Seok-hyun said. LG Vehicle Component Solutions Company.

“This new facility demonstrates the continued growth of LG Magnae-Powertrain,” said Cheong Won-suk, CEO of LG Magnae-Powertrain. “JV’s continued success will enable us to better support our customers with best-in-class components for the next generation of electric vehicles and expand our presence in the fast-growing global EV market.”

The groundbreaking event on April 19th was attended by LG Magna e-Powertrain, LG Electronics, Magna, General Motors and local government officials.

Tom Lacquer, President of Magna Powertrain, said: “The construction of a new facility is a true testament to the strength of this collaboration and commitment to provide innovative solutions to meet customer challenges, and when using either the eDrive subsystem or the full system. But we will strengthen our active participation in the electrification transformation. “

General Motors is a key customer of the new facility and will play a key role in GM’s journey to build a strong, scalable and sustainable North American-focused EV supply chain.

First unveiled in late 2020, the LG Magnae-Powertrain combines LG’s expertise in developing components for motors, inverters, and car chargers with Magna’s superior capabilities in electric powertrain systems and automotive manufacturing. .. The joint venture is expected to drive the growth of both companies in the highly competitive EV industry.

About LG MAGNAE-POWER TRAIN
LG Magna e-Powertrain was launched in July 2021 as a joint venture between LG Electronics and Magna International. We are driven by the powerful synergies created by combining LG’s capabilities in EV components with Magna’s experience in the traditional automotive business. Based on the technology and manufacturing competitiveness of key EV powertrain components (motors, inverters, converters, IPGM, etc.), we have grown to become the No. 1 e-mobility solution partner leading the rapidly changing EV component market. .. More than 1,300 LG Magna employees in South Korea, North America, Europe, South America and Asia work organically through innovation, marketing, R & D, purchasing and manufacturing.

For more information, please visit www.lgmagna.com and follow us on LinkedIn “LG Magnae-Powertrain”.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/37eb6b96-2a61-4971-903b-d5e27acad208.


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LG Magna e-Powertrain celebrates breakthroughs in Mexico’s new facility, Canadian Business Journal

Source link LG Magna e-Powertrain celebrates breakthroughs in Mexico’s new facility, Canadian Business Journal

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