LG Magna expands with new facility in Hungary
LG Magna e-Powertrain, the JV between LG and Magna, is expanding its footprint with a new facility in Miskolc, Hungary.
Scheduled for completion in 2025, the new facility will start production with e-motors and plans to offer a suite of electrified powertrain solutions in the future, including inverters and on-board chargers for the growing EV market.
The facility in Miskolc’s is strategically located near OEM customers and other Magna facilities throughout the region. The company has also received strong support from both the Hungarian government and local authorities.
The 284,000-square-foot facility will be LG Magna e-Powertrain’s first production operations in Europe and, at the initial start of production in 2026, the company expects to create roughly 200 new jobs, the company states in a press release.
“Adding the new Hungary facility marks another milestone for the JV in executing its growth plan,” says Diba Ilunga, president of Magna powertrain. “With this new capacity – the JV’s first in Europe - LG Magna e-Powertrain is well positioned to keep pace with customer demands and increases in global EV production.”
This new facility seeks to amplify the growth of LG Magna e-Powertrain in the European market.
“Along with the facilities in Mexico, China and South Korea, the facility in Hungary will be critical as the company accelerates its position as a go-to mobility solutions partner in the fast-growing global EV market,” says said Cheong Won-suk, chief executive officer of LG Magna e-Powertrain.
