{"id":90703,"date":"2023-09-04T10:28:21","date_gmt":"2023-09-04T07:28:21","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=90703"},"modified":"2023-09-04T10:29:36","modified_gmt":"2023-09-04T07:29:36","slug":"lg-magna-e-powertrain-establishes-its-4th-production-facility-to-back-growth-in-ev-market","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/lg-magna-e-powertrain-establishes-its-4th-production-facility-to-back-growth-in-ev-market\/","title":{"rendered":"LG Magna e-Powertrain establishes its 4th production Facility to back growth in EV market"},"content":{"rendered":"

LG Magna e-Powertrain, the Joint Venture (JV) between LG Electronics (LG)<\/a> and Magna (Magna)<\/a> announced at IAA Mobility 2023 that it is expanding its footprint with establishing its fourth production facilities and the first in Europe to support continued growth in electric vehicle (EV) market.<\/p>\n

The new facility in Miskolc, Hungary, will start production with e-motors and plans to offer a suite of electrified powertrain solutions in the future, including inverters and on-board chargers for the growing EV market.<\/p>\n

Scheduled for completion in 2025, the 284,000-square foot facility will be LG Magna e-Powertrain\u2019s first production operations in\u00a0Europe and, at initial start of production in 2026, the company expects to create roughly 200 new jobs.<\/p>\n

The facility will be in Miskolc\u2019s industrial area which features well-developed infrastructure and is strategically located near OEM customers and other Magna facilities throughout the region. The company has also received strong support from both the Hungarian government and local authorities.<\/p>\n

\u201cAdding the new Hungary facility marks another milestone for the JV in executing its growth plan,\u201d said Diba Ilunga, president of Magna powertrain. \u201cWith this new capacity \u2013 the JV\u2019s first in Europe \u2013 LG Magna e-Powertrain is well positioned to keep pace with customer demands and increases in global EV production.\u201d<\/p>\n

\u201cOur new facility is a testament to the remarkable growth of LG Magna e-Powertrain, thanks to our strong partnership,\u201d said Eun Seok-hyun, president of LG Vehicle component Solutions (VS) Company. \u201cThe new facility aims to meet the demands of European automakers, demonstrating our commitment to delivering innovative solutions to our customers.\u201d<\/p>\n

As the industry shifts toward vehicle electrification, the JV offers automakers a scalable portfolio including complete component solutions that enable electrification and functionality.<\/p>\n

\u201cThis new facility seeks to amplify the growth of LG Magna e-Powertrain in the European market,\u201d said Cheong Won-suk, chief executive officer of LG Magna e-Powertrain. \u201cAlong with the facilities in Mexico, China and South Korea, the facility in Hungary will be critical as the company accelerates its position as a go-to mobility solutions partner in the fast-growing global EV market.\u201d<\/p>\n

The joint venture combines Magna\u2019s expertise in electric powertrain systems and operational excellence, with LG\u2019s capabilities in component development for e-motors, inverters and on-board chargers. The collaboration in design, engineering and manufacturing happening within LG Magna e-Powertrain allows both companies to capitalize on market trends and address customer needs with innovative solutions.<\/p>\n

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LG Magna e-Powertrain, the Joint Venture (JV) between LG Electronics (LG) and Magna (Magna) announced at IAA Mobility 2023 that it is expanding its footprint with establishing its fourth production facilities and the first in Europe to support continued growth in electric vehicle (EV) market. The new facility in Miskolc, Hungary, will start production with […]<\/p>\n","protected":false},"author":410,"featured_media":90704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13331,984],"tags":[8584,6526],"yoast_head":"\nLG Magna e-Powertrain establishes its 4th production Facility to back growth in EV market - Csr Egypt<\/title>\n<meta name=\"description\" content=\"LG Magna e-Powertrain is expanding its footprint with establishing its fourth production facilities and the first in Europe to support continued growth in (EV) market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/lg-magna-e-powertrain-establishes-its-4th-production-facility-to-back-growth-in-ev-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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