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, where it expects to create 400 new jobs.

Scheduled to open for completion in 2023, it will produce on-board inverters, motors and chargers to support General Motors' electric vehicle (EV) production, spanning 260,000 square feet.

"Strengthening 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.

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"This new facility demonstrates the continued growth of LG Magna e-Powertrain," said Cheong Won Suk, CEO of LG Magna e-Powertrain. "The continued success of this joint venture will allow 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."

The inaugural 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 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 Rücker, president of Magna Powertrain.

“The construction of a new facility is a true testament to the strength of this collaboration and commitment in delivering innovative solutions to customers to meet their challenges. It also reinforces our active participation in the transformation of electrification, whether through eDrive subsystems or complete systems.”

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General Motors is the pivotal customer for the new facility and will play a key role in GM's journey to build a strong, scalable, sustainable and North American-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 expertise in electric powertrain systems and automobile manufacturing. The joint venture is expected to fuel growth for both companies in the highly competitive electric vehicle industry.

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