Magna and LG to build new e-powertrain facility in Hungary
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The 284,000-square foot facility will be LG Magna e-Powertrain’s first production operations in Europe.
LG Magna e-Powertrain, the joint venture (JV) between LG Electronics and Canadian auto parts maker Magna International, is building a new production facility in Miskolc, Hungary.
Scheduled for completion in 2025, the new facility – to be located in Miskolc’s industrial area – 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.
The 284,000-square foot facility will be LG Magna e-Powertrain’s fourth manufacturing plant and its first production operations in Europe and, at initial start of production in 2026, the company expects to create roughly 200 new jobs.
“Adding the new Hungary facility marks another milestone for the JV in executing its growth plan,” said Diba Ilunga, president of Magna powertrain. “With this new capacity – the JV’s first in Europe – LG Magna e-Powertrain is well positioned to keep pace with customer demands and increases in global EV production.”
“This new facility seeks to amplify the growth of LG Magna e-Powertrain in the European market,” said Cheong Won-suk, CEO of LG Magna e-Powertrain. “Along 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.”
Launched in July 2021, the LG Magna e-Powertrain joint venture combines Magna’s offerings in electric powertrain systems and operations, with LG’s capabilities in component development for e-motors, inverters, and onboard 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.