LG and Magna make E-Mobility Joint Venture Fix

LG and Magna make E-Mobility Joint Venture Fix-magna

The electronics company LG Electronics and the automotive supplier and ordinary magna have now officially signed the contract for their joint venture, in which the two companies merge their expertise to electric powertrains to accelerate the development of e-drive components. The new company, which was baptized LG Magna E-Powertrain, is headquartered in Incheon, South Korea, and is headed by a strong and experienced management team.

At the top of the new company, CEO Cheong Won-Suk, a 20-year-old LG veteran, which was last vice president and head of the Green Business of the LG Vehicle Component Solutions Company. In front of LG, Cheong spent almost a decade of the former automaker Daewoo in research and development. Javier Perez, who has been with Magna since 2016, will be the COO of the new company and for the supervision of the ongoing business of the joint venture. Perez brings nearly a quarter of a century of automotive experience and quality control in LG Magna E-PowerTrain.

The founding of the joint venture association Magna‘s strength in electric drive systems and first-class automotive industry with the expertise of LG in component development for e-motors and inverters, so the two companies in a current message. The announcement of the LG Magna E-PowerTrain leadership teams designate the two partners as an important milestone for the joint venture, which produce e-motors, inverters and on-board chargers as well as for certain car manufacturers related E-Drive systems.

The synergies for design, engineering and production created by LG Magna E-PowerTrain should enable both companies to react quickly to market trends and benefit from the growing global changeover to the electrification of vehicles. The new company will develop powertrain components that automobiles should provide a scalable portfolio – from complete solutions that enable electrification and functionality, up to the integration of intelligent operating software and controls into new E-DRIVE systems.

“The market for e-motors, inverters and electric drive systems is expected to increase significant growth by 2030. Our joint venture company brings together experts from Magna and LG to provide a first-class portfolio of electrical solutions, “says Coo Perez. With its technologies, technical capabilities and global presences, LG Magna E-Powertrain’s progress to help to help car manufacturers to master some of the biggest challenges in electrifying their entire vehicle series. LG Magna E-PowerTrain will employ more than 1000 employees in the United States, South Korea and China.

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1 thought on “LG and Magna make E-Mobility Joint Venture Fix”

  1. Where does BEV music play?
    In Asia.
    Because our eternal trucks have lost a lot, or to damage nature with their burners forever and eternally.

    Reply

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