From 2026, electric drives for the growing electric car market will roll off the assembly line in Miskolc, 150 kilometers northeast of Budapest, LG Magna e-Powertrain, a subsidiary established in 2021 with South Korean technology group LG, announced on Monday. . Munich IAA Motor Show. This is the fourth plant of the joint venture and the first in Europe.
The facility in the Miskolc Industrial Zone is strategically located close to OEM customers and other Magna facilities in the region. Magna and LG stressed in the release that they have received strong support from the Hungarian government and local authorities.
Construction is scheduled to be completed in 2025. Apart from electric motors, inverters that convert alternating current into direct current in the vehicle and on-board chargers will also be produced. LG Magna e-Powertrain expects the 284,000 square meter factory to create around 200 new jobs.
“With this new capacity – the joint venture’s first in Europe – LG Magna e-Powertrain is well-positioned to keep pace with customer demands and growth in global EV production,” said Diba Ilunga, president of Magna Powertrain, in the press release. “
