LG Magna e-Powertrain inaugurates plant in Coahuila
RAMOS ARIZPE, COAH – LG Magna e-Powertrain, a joint venture between LG Electronics (LG) and Magna International Inc. (Magna), celebrated the inauguration of its new plant in Ramos Arizpe, Coahuila, Mexico.
Scheduled to be completed in 2023, the new facility will produce inverters, motors and on-board chargers to support General Motors' electric vehicle (EV) production. The 260,000-square-foot plant will be LG Magna e-Powertrain's first production base in North America and is expected to create about 400 new jobs.
"Reinforcing our Joint Venture's ability to develop and produce advanced EV sub-assemblies, this complex represents one of the key pillars of LG's long-term strategy to become the automotive industry's benchmark innovation partner," said Eun Seok-hyun, president of LG Vehicle Components Solutions Company.
"The continued success of this joint venture will enable us to better support our customers with best-in-class components for the next generation of electric vehicles and help us expand our presence in the fast-growing global electric vehicle market,” said Cheong Won Suk, chief executive officer of LG Magna e-Powertrain.
The inaugural event was attended by executives from LG Magna e-Powertrain, LG Electronics, Magna, General Motors and local government officials.
"In the space of just over a year, we added an expansion agreement, identified a strategic location to support our customer and are now in the process of realizing our plans," said tom rucker, president of Magna Powertrain.
General Motors is the cornerstone customer of the new facility and will play a key role in GM's journey to build a robust, scalable, sustainable and North America-focused electric vehicle supply chain.
First announced in late 2020, LG Magna e-Powertrain combines LG's expertise in developing components for integrated motors, inverters and chargers with Magna's prowess in electric powertrain systems and automotive manufacturing. The joint venture is expected to fuel the growth of both companies in the highly competitive electric vehicle industry.
Source: Cluster Industrial