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LG Magna e-Powertrain expands footprint with new facility in Hungary; 4th plant worldwide

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LG Magna e-Powertrain, the Joint Venture (JV) between LG Electronics (LG) and Magna (Magna) formed in 2021 ( earlier post ), announced at IAA Mobility 2023 that it is expanding its footprint with a new facility in Miskolc, Hungary. This new facility seeks to amplify the growth of LG Magna e-Powertrain in the Europe-an market.

Hungary 195
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SK On signs MOU with Global Lithium Resources to bolster key battery materials supply chain

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South Korea-based SK On (SKO), a global EV battery manufacturer, signed a Memorandum of Understanding (MOU) with Australia’s Global Lithium Resources to explore future business opportunities together in regard to stable supply of lithium. Map of Western Australia showing the location of Global Lithium’s assets.

Supplies 259
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EcoProBM, SK On and Ford to invest C$1.2B to build NCM cathode manufacturing facility in Bécancour, Québec

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billion (US$886 million) to build a cathode manufacturing facility that will provide materials that ultimately supply batteries for Ford’s future electric vehicles. SK On, Korea-based EcoProBM and Ford will invest C$1.2 EcoProBM established EcoPro CAM Canada LP in February.

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SK IE Technology to supply separators for EV batteries to Sunwoda

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SK IE Technology (SKIET) signed an MOU with Sunwoda , the 9 th largest battery manufacturer in terms of global market share (according to SNE Research in 2022), to strengthen cooperation in supplying battery separators. This marks SKIET’s first large-scale supply of EV battery separators to a Chinese EV battery manufacturer.

Supplies 199
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BMW investing €400M in new vehicle assembly at Munich plant as part of shift to electromobility; engine production being concentrated at Steyr and Hams Hall

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The BMW Group is speeding up the shift towards electromobility and strengthening its global network for production of electrified vehicles. The future assembly and its production processes will be designed for a new cluster architecture geared towards electric drive trains.

BMW 396
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Mercedes-Benz Cars invests €1B in new “Full-Flex” car plant in Hungary; Factory 56 applied to full plant

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Mercedes-Benz Cars is starting construction of its first “Full-Flex Plant“ in Kecskemét, Hungary, about 90 km in the south of Budapest. With an investment of one billion euros, we are building in Hungary the first ‘Full-Flex Plant’ in the global production network of Mercedes-Benz Cars.

Hungary 150
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Schaeffler introducing 4in1 electric axles for EVs

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In the future, Schaeffler will supply beam axles to automobile manufacturers, particularly in North America. For the electrification of medium-duty pick-up trucks, particularly for the North American market, Schaeffler is developing and will manufacture an electric beam axle.