LG Magna e-Powertrain, a joint venture (JV) between LG Electronics and Magna International Inc (NYSE: MGA), marked the groundbreaking of its new plant in Ramos Arizpe, Mexico. General Motors Co (NYSE: GM) is the foundational customer for the new facility. The new facility will produce inverters, motors, and on-board chargers to support General Motors' electric vehicle (EV) production. The 260,000 square foot plant will be LG Magna e-Powertrain's first production base in North America and will cr
The plant, which is being built by the LG Magna e-Powertrain joint venture, will make EV motors, inverters and on-board chargers. GM said a year ago that it planned to invest more than $1 billion in its Ramos Arizpe assembly plant, which will begin building EVs in 2023. GM's Ramos Arizpe plant currently builds the gasoline-powered Chevrolet Equinox and Blazer SUVs.
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