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.
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.”
