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LG-Magna venture breaks ground on EV motor factory in Mexico

Plant to go online in 2023, supplying components to GM

The LG-Magna joint venture will supply GM with motors and other components from the Mexico plant. (Photo courtesy of Magna International)

SEOUL -- A joint venture between LG Electronics and Canadian automotive supplier Magna International will build an electric-vehicle parts factory in Mexico, with the roughly $100 million in outlays marking the first investment since the new company's launch last July.

LG Magna e-Powertrain will churn out motors, inverters and more at the planned 25,000-sq.-meter factory in Ramos Arizpe in the state of Coahuila. The components will be supplied largely to General Motors, which is upgrading an assembly plant in that state so that it can produce electric vehicles.

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