Texas Border Business
Ramos Arizpe, Coahuila de Zaragoza, Mexico. – The automotive industry is strengthened in Coahuila with the future production of electric cars, for which the company LG-Magna e-Powertrain, LG-Electronics, and International Inc. began the construction of the new plant in the “Santa María” Industrial Park, with the laying of the first stone of the facility. The Governor of the state of Coahuila Miguel Ángel Riquelme Solís and senior managers of the consortium took part in this important event.
LG Magna e-Powertrain, a joint venture between LG Electronics and Magna International, has broken ground on a $100 million electric vehicle (EV) component plant in Mexico.
Scheduled to be up and running in 2023, the plant will be located in the city of Ramos Arizpe in the state of Coahuila de Zaragoza. It will produce inverters, motors, and on-board chargers to support production at General Motors factories.
The 260,000-square-foot plant will be LG Magna e-Powertrain’s first production base in North America and is expected to create around 400 new jobs, according to a statement released by the two companies.
Gov. Riquelme Solís, in his speech, established his conviction that Coahuila is consolidated as the best destination to invest, as he extended congratulations to LG-Magna because the facilities will manufacture inverters, motors, and integrated chargers for the production of electric vehicles of General Motors.
Before the mayors of the cities Ramos Arizpe and Saltillo, José María Morales Padilla and José María Fraustro Siller, respectively, as well as Joao Wan Cho, WS Cheong, and San Cho, directors of LG-Magna, and Jeff Morrison, senior official of General Motors, Gov. Riquelme Solís highlighted the achievements and advances that Coahuila registers in investments, job creation, competitiveness, and labor formality.
“The joint venture between LG-Magna e-Powertrain and Magna is of the utmost importance for the State because both companies represent for Coahuila the guarantee of facing the new challenges that arise on a global level in the energy issue,” the governor asserted.
Gov. Riquelme Solís pointed out that the investors settled on a state that is safe for people to work and that has aqualified workforce.
General Motors is the primary customer for this new facility and will play a key role in GM’s journey to build a strong, scalable, sustainable, and North American-focused electric vehicle supply chain.
The joint venture is expected to propel growth for both companies in the highly competitive electric vehicle industry.
Information Source: State of Coahuila
