“The market for e-motors, inverters and electric drive systems expects significant growth between now and 2030.Our joint venture company brings together experts from Magna and LG to deliver a world-class electric solutions,” said COO Perez.
The new company, tentatively called LG Magna e-Powertrain, marries Magna’s strength in electric powertrain systems and world class automotive manufacturing with LG’s expertise in component development for e-motors and inverters.