LG Magna e-Powertrain, the joint venture formed in 2021 between South Korean LG Electronics and Canada-based automotive parts company Magna, 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.