LG Magna e-Powertrain, the JV between LG Electronics and Magna International, has set the groundwork for its new plant in Ramos Arizpe, Mexico.
Scheduled for completion in 2023, the new facility will manufacture inverters, motors, and on-board chargers to support General Motors’ electric vehicle (EV) production.
The 260,000 square foot plant will be JV’s first production base in North America and is expected to create around 400 new jobs, a communication from the company stated.
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, the release added.
Eun Seok-hyun, President, LG Vehicle Component Solutions Company, said that by strengthening the 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.
Cheong Won-suk, CEO, LG Magna e-Powertrain, said, “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.”
Tom Rucker, President of Magna Powertrain, added that it also reinforces the company’s active participation in the electrification transformation, whether by eDrive subsystems or full systems.
LG Magna e-Powertrain, first announced in late 2020, combines LG’s expertise in designing components for motors, inverters, and on-board chargers with Magna’s expertise in electric powertrain systems and automobile production, the release said.