Magna awarded with a new high-voltage eDrive business with a Europe-based global OEM

At CES 2024, Magna unveiled its next-generation 800V eDrive solution that sets new standards in efficiency, power-to-weight ratio, and torque density. Magna's next-generation eDrive is a drop-in solution that incorporates several advanced technologies, resulting in significant reductions in weight and size, enhanced performance, extended driving range, and sustainability. It offers enhanced flexibility due to its...

9 January 2024

LG will hold a private demonstration for major automakers at CES 2024, introducing a new cross domain platform integrating Advanced Driver Assistance System (ADAS), Automated Driving (AD) and In-Vehicle Infotainment (IVI) technologies. Developed by LG in collaboration with Magna, a global mobility tech company, the game-changing future mobility platform is expected to arrive on the market in the near future...

4 January 2024

LG Magna e-Powertrain, the JV between LG Electronics and Magna formed in 2021, 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...

4 September 2023

onsemi announced a long-term supply agreement (LTSA) for Magna to integrate onsemi's EliteSiC intelligent power solutions into its eDrive systems. By integrating onsemi's industry-leading EliteSiC MOSFET technology, Magna eDrive systems can offer better cooling performance and faster acceleration and charging rates, improving efficiency and increasing the range of electric vehicles (EVs). Additionally, onsemi's...

2 August 2023

Magna has announced the start of production of a first-to-market, modular eDecoupling unit to support multiple battery electric vehicle (BEV) programs for a German premium OEM. A bolt-on stand-alone solution for BEVs, the eDecoupling is an electromechanical device that disconnects the e-motor from the driveshaft in electric vehicles when propulsion power is not needed, reducing energy consumption and increasing...

2 August 2023

LG Magna e-Powertrain, a joint venture between LG Electronics and Magna International Inc., celebrated the groundbreaking of its new plant in Ramos Arizpe, Mexico. Scheduled for completion in 2023, the new facility will produce inverters, motors, and onboard chargers to support General Motors’ new electric vehicle (EV) platform. The 260,000 square foot plant will be LG Magna e-Powertrain’s first production base in...

20 April 2022

With the increasing shift toward vehicle electrification, Magna is leveraging its market-leading body and chassis expertise to provide innovative battery enclosures. The company announced today that it is expanding its operations into Chatham, as an extension of its current operations in St. Thomas to support new business from Ford Motor Company. The new 170,000 square foot facility is expected to create up to 150...

1 April 2022

Magna's all-electric connected powertrain, the EtelligentReach, is the latest innovation set to debut on a new entrant vehicle in 2022. The complete system is comprised of two electric motors, inverters and gearboxes, and leverages advanced software to maximize vehicle range and driving dynamics. eDrive technology advancements and the holistic vehicle development approach of the EtelligentReach achieve a range...

14 December 2021

Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for $37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has...

5 October 2021

LG and Magna signed the transaction agreement which establishes a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a strong management team. Leading the new company will be CEO Cheong Won-suk, a 20-year LG veteran who was most recently vice president and head of the LG Vehicle component Solutions Company’s Green...

30 July 2021

The LG Magna e-Powertrain is a joint venture between LG Electronics of Korea and Magna International of Canada. It is set to start operations this month. LG will participate by separating a part of its VS Business Division. Magna will invest USD 453 million to secure a 49% stake. By mid-July, the new business entity should be established. LG Magna e-Powertrain will produce inverters, motors, and in-vehicle chargers...

2 July 2021

Magna introduced its all-new connected Magna EtelligentEco PHEV drivetrain and next-gen Magna EtelligentReach battery-electric drive systems. Both were on full display at the company’s Winter Test driving location in northern Sweden. On a frozen track under demanding climatic and driving conditions, the technologies proved their functional advantages including better efficiency, range, and driving dynamics. We're...

8 March 2021

LG and Magna announced a joint venture (JV) to manufacture e-motors, inverters and onboard chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. 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...

23 December 2020

As part of Magna's strategic direction to support traditional automakers as well as new entrants, the company announced that it has signed agreements with Fisker Inc. that provide the framework for a platform sharing and manufacturing cooperation for the Fisker Ocean SUV. Fisker, an e-mobility automaker, announced plans to start production in the fourth quarter of 2022. The Fisker Ocean will initially be...

16 October 2020