LG Magna E-Powertrain confirms construction of plant in Coahuila

LG Magna e-Powertrain confirmed that it will build a plant in Ramos Arizpe, Coahuila, which will have an investment of 300 million dollars; and its construction is scheduled to be completed in 2023.

The new joint venture facility between LG Electronics and Magna International Inc. will produce inverters, motors and on-board chargers to support General Motors ' new electric vehicle platform .

The 260,000-square-foot manufacturing complex will be the first LG Magna e-Powertrain production base in North America and is expected to create around 400 new jobs .

Eun Seok-hyun, president of vehicle component solutions company LG, said they are strengthening the joint venture's ability to develop and produce sub-assemblies of advanced EVs , with the Ramos Arizpe site representing one of the key pillars of LG  's long-term strategy to become the automotive industry's benchmark innovation partner.

For his part, Cheong Won-suk, CEO of LG Magna e-Powertrain, commented that the Mexican plant demonstrates the growth of the new company that will better support customers with best-in-class components for the next generation . of electric vehicles , and will help them expand their presence in the fast-growing global electric vehicle market.

Tom Rucker, president of Magna Powertrain, stated that in just over a year they added an expansion agreement and are in the process of realizing their plans for delivering innovative solutions to customers.

General Motors is the primary customer for the new facility and will play a key role for the automaker in building a strong, scalable, sustainable and North American- centric 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.