LG Magna e-Powertrain, a joint venture between LG Electronics and tier-1 automotive supplier Magna International, announced on September 4 that it will build a new production facility in Hungary. Construction is expected to be finished in 2025.
The company disclosed the news at IAA Mobility 2023 in Germany. According to an announcement, the new facility will be LG Magna e-Powertrain's first production facility in Europe. The factory will be located in Miskolc, Hungary, and near the company's local OEM customers and other Magna facilities.
LG Magna e-Powertrain said it aims to complete constructing the Hungary plant in 2025 and start producing electric motors in 2026. The facility will manufacture a suite of electrified powertrain solutions in the future, the company added.
Established in 2021, LG Magna e-Powertrain manufactures drive motors, power conversion devices and integrated systems. CEO Cheong Won-suk said the facility in Hungary is expected to amplify the company's growth in the European market. He also said with plants in Mexico, China, South Korea and Hungary, LG Magna e-Powertrain can accelerate its position as a go-to mobility solutions partner in the global EV market.
On the other hand, Magna announced on Monday the start of production of its Gen5 front camera module system for a European OEM. According to the automotive supplier, the wide field of view that the camera module offers allows long-range perception of obstacles exceeding 160 meters in front of the vehicle. The technology also enables the detection of side objects like traffic lights or cut-in vehicles.
Magna said the camera module offers eight megapixels of resolution, a frame rate of 36 frames per second and a full-color image. It offers features such as trained park assist (TPA), environmental condition recognition (ECR) and hazard detection (HZD). The camera also enables monocular scene reconstruction (MSR), which detects the transition from drivable to non-drivable areas.
