News Release - LG Magna e-Powertrain Celebrates Groundbreaking of New Facility in Mexico
Click here for the PDF version of the release
SEOUL, South Korea, April 19, 2022 (GLOBE NEWSWIRE) -- LG Magna e-Powertrain, a joint venture (JV) between LG Electronics (LG) and
“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
“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.”
The groundbreaking event, which took place on April 19, was attended by executives from LG Magna e-Powertrain, LG Electronics, Magna, General Motors and local government officials.
“In the space of just over one year, we’ve 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
General Motors is the foundational customer for the new facility, and it will play a key role in GM’s journey to build a strong, scalable, sustainable and North America-focused EV supply chain.
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 highly competitive EV industry.
ABOUT LG MAGNA E-POWERTRAIN
LG Magna e-Powertrain launched in July 2021 as a joint venture between LG Electronics and
For more information, please visit www.lgmagna.com and follow us on LinkedIn “LG Magna e-Powertrain”
Media Contacts: |
||
LG Electronics, Inc. | ||
Léa Lee | Tracy Fuerst | |
+82 2 3777 3981 | 248-761-7004 | |
lea.lee@lge.com | Tracy.fuerst@magna.com | |
www.LGnewsroom.com | www.magna.com | |
Magna International Inc.