LG Magna e-Powertrain Plans New Production Facility in Hungary

Specifications:

Name:

LG Magna e-Powertrain Plans New Production Facility in Hungary

Location:

Hungary

Company:

LG Magna

Estimated Cost:

-

Source:

https://www.magna.com/

Introduction:

LG Magna e-Powertrain, the Joint Venture (JV) between LG Electronics (LG) and Magna (Magna) formed in 2021, announced that it is expanding its footprint with a new facility in Miskolc, Hungary.

Features:

The facility will be in Miskolc’s industrial area which features well-developed infrastructure and is strategically located near OEM customers and other Magna facilities throughout the region.

Scheduled for completion in 2025, the new facility 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 first production operations in Europe and, at initial start of production in 2026, the company expects to create roughly 200 new jobs.