LG Magna e-Powertrain breaks ground on new facility in Mexico
The company is constructing a new manufacturing plant to produce electric powertrain components for General Motors from 2023, creating an estimated 400 new jobs.
LG Magna e-Powertrain, a joint venture between LG Electronics and Magna International, has broken ground on its new plant in Ramos Arizpe, Mexico. Scheduled for completion in 2023, the new facility will produce inverters, motors, and on-board chargers to support General Motors’ electric vehicle production.
Once completed, the 260,000 square foot plant will be LG Magna e-Powertrain’s first production base in North America and is expected to create around 400 new jobs. General Motors is the foundational customer for the new facility.
“Strengthening our JV’s ability to develop and produce advanced EV sub-assemblies, the Ramos site represents one of the key pillars of LG’s long-term strategy to become the auto industry’s go-to innovation partner,” says Eun Seok-hyun, president of the LG Vehicle component Solutions Company, in a press release.
First announced in late 2020, LG Magna e-Powertrain combines LG’s expertise in developing components for motors, inverters, and on-board chargers with Magna’s prowess in electric powertrain systems and automotive manufacturing. The joint venture is expected to fuel both companies’ growth in the competitive EV industry.
“This new facility demonstrates the continuing growth of LG Magna e-Powertrain,” says Cheong Won-suk, chief executive officer of LG Magna e-Powertrain. “The JV’s ongoing success will enable us to better support our customers with best-in-class components for the next generation of electric vehicles, and help us to expand our presence in the fast-growing global EV market.”
