LG Magna e-Powertrain, the Joint Venture (JV) between LG Electronics (LG) and Magna (Magna) formed in 2021 (earlier post), announced at IAA Mobility 2023 that it is expanding its footprint with a new facility in Miskolc, Hungary.

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. The company has also received strong support from both the Hungarian government and local authorities.

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.

Rendering of new LG Magna Powertrain facility in Hungary

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.

As the industry shifts toward vehicle electrification, the JV offers automakers a scalable portfolio including complete component solutions that enable electrification and functionality.

This new facility seeks to amplify the growth of LG Magna e-Powertrain in the Europe-an market. 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.

—Cheong Won-suk, CEO of LG Magna e-Powertrain

The joint venture combines Magna’s expertise in electric powertrain systems and opera-tional excellence, with LG’s 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.