- The new facility in Miskolc, Hungary, will be completed in 2025.
- Production will start in 2026, creating roughly 200 new jobs.
- The 284,000-square foot facility will produce e-motors and later inverters and on-board chargers.
- The facility is strategically located near OEM customers and other Magna facilities.
New Facility in Hungary
LG Magna e-Powertrain, a joint venture between LG Electronics and Magna, announced the establishment of a new facility in Miskolc, Hungary. The facility is located in Miskolc’s industrial area, which offers well-developed infrastructure and proximity to OEM customers and other Magna facilities in the region. The project has received strong support from the Hungarian government and local authorities.
Production and Job Creation
Scheduled for completion in 2025, the new facility will begin production in 2026, initially focusing on e-motors. The 284,000-square foot facility is expected to create approximately 200 new jobs. Future plans include offering a suite of electrified powertrain solutions, such as inverters and on-board chargers, to cater to the growing electric vehicle (EV) market.
Strategic Importance
This facility marks LG Magna e-Powertrain’s first production operations in Europe, positioning the company to meet increasing customer demands and global EV production. The new facility will complement existing operations in Mexico, China, and South Korea, enhancing the joint venture’s ability to serve as a key mobility solutions partner in the global EV market.
Collaboration and Expertise
The joint venture leverages Magna’s expertise in electric powertrain systems and operational excellence, combined with LG’s capabilities in component development for e-motors, inverters, and on-board chargers. This collaboration in design, engineering, and manufacturing enables both companies to capitalize on market trends and address customer needs with innovative solutions.