Mexico Invest news

Mexico to produce 100% electric motors

COAHUILA – The LG Magna e-Powertrain plant, located in Coahuila, will start operations in a month and aims to manufacture more than 1 million electric motors; General Motors will be its main customer.

Alberto Bustamante, advisor and consultant to the automotive sector, said that the operations of the Korean plant, created by a joint venture between LG electronics and Magna International, will begin in a month in Coahuila to supply the U.S. market.

The plant’s goal is to manufacture more than 1 million engines, since the U.S. industry is preparing to achieve the goal of more than 20 million electric vehicles by 2030.

So far, China is the world leader in the manufacture of electric motors, but given the circumstances of the new rules of the United States, Mexico, Canada Agreement (USMCA) and nearshoring, Mexico is on the road to becoming one of the leaders in the global manufacture of Electric Vehicles (EV).

There is currently a portfolio of US$15 billion that German, Taiwanese, Chinese, Korean, U.S. and Canadian companies intend to invest in order to open or expand factories to produce auto parts.

According to the National Auto Parts Industry (INA), this investment will include chargers for electric motors, lithium-ion batteries, as well as airbags, braking systems, interior packaging, rear-view mirrors and seats, among other items that will help strengthen the supply chain to move towards electromobility.


Related Posts