The new manufacturing plant in Mexico will produce electric powertrain components for General Motors starting in 2023.
LG Magna e-Powertrain, a joint venture (JV) between LG Electronics (LG) and Magna International Inc. (Magna), celebrated the groundbreaking of 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, the company says.AdvertisementThe groundbreaking event took place on April 19 and was attended by executives from LG Magna e-Powertrain, LG Electronics, Magna, General Motors and local government officials. 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, the company adds. “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,” said Eun Seok-hyun, president of the LG Vehicle component Solutions Company. “This new facility demonstrates the continuing growth of LG Magna e-Powertrain,” said 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.”Advertisement
The groundbreaking event took place on April 19 and was attended by executives from LG Magna e-Powertrain, LG Electronics, Magna, General Motors and local government officials.
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, the company adds.
“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,” said Eun Seok-hyun, president of the LG Vehicle component Solutions Company.
“This new facility demonstrates the continuing growth of LG Magna e-Powertrain,” said 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.”
Automotive Aftermarket Manufacturing: BBB Industries Introduces New Online Portal
Automotive Aftermarket Manufacturing: Bridgestone, Microsoft Collab on Tire Analytics
Automotive Aftermarket Manufacturing: SMP Wins Waytek New Product of the Year Award
Automotive Aftermarket Manufacturing: Visteon Enriches Quality of Vehicle Display Graphics
Personnel: MotoRad Names Matt Buchholz CEO
News: Overheard: Used Vehicle Index Updates
News: People On the Move: Week of Aug. 8
News: Top 5 Stories of the Week
5 Minutes With: 5 Minutes with Clay Parks of Bar’s Products
Going the Extra Mile(s) with Iridium Spark Plugs