By
News Reporter
New Company to Fuse Magna’s and LG’s Electric Powertrain
Strengths to Accelerate E-Drive Component Development
SEOUL, South Korea and AURORA, Ontario, Canada, July 28, 2021 – LG Electronics (LG) and Magna International Inc. (Magna) today 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 , a 20-year LG veteran who was most recently vice president and head of the LG Vehicle component Solutions Company’s Green Business. Prior to LG, Cheong spent nearly a decade with Daewoo Motors R&D.
, who has been with Magna since 2016, will be the new company’s COO. He will be responsible for overseeing the day-to-day operations of the joint venture. Perez brings nearly a quarter century of automotive manufacturing and quality control experience to LG Magna e-Powertrain, 18 of those years based in Asia.
The creation of the joint venture unifies Magna’s strength in electric powertrain systems and world-class automotive manufacturing with LG’s expertise in component development for e-motors and inverters. Announcing LG Magna e-Powertrain’s executive team marks a key milestone for the joint venture company, which will manufacture e-motors, inverters and on-board chargers and, for certain automakers, related e-drive systems.
The design, engineering and manufacturing synergies created by LG Magna e-Powertrain is expected to enable both companies to quickly react to market trends and capitalize on the growing global shift toward vehicle electrification. The new company will develop powertrain components that offer automakers a scalable portfolio, from complete solutions enabling electrification and functionality to integrating intelligent operating software and controls in new e-drive systems.
“Partnering with Magna enables LG to scale up its global production, provide additional business opportunities and offer synergies in procurement and technological innovation,” said CEO Cheong. “The integrated and collaborative approach is expected to deliver quickly for customers and capitalize on the rapid growth of the worldwide electric powertrain market.”
“The market for e-motors, inverters and electric drive systems is expected to have significant growth between now and 2030. Our joint venture company brings together experts from Magna and LG to deliver a world-class portfolio of electric solutions,” said COO Perez. “Leveraging existing technologies, engineering capabilities and global footprints, LG Magna e-Powertrain seeks to enable advancements that help automakers achieve some of the biggest challenges ahead in electrifying their full vehicle lineups.”
LG Magna e-Powertrain will be made up of more than 1,000 employees in the United States, South Korea and China.
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By lgoledtv
By Jjufyu23
By News Reporter
By Siham
By mark18
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Prasan Prasad 0
I purchased an LG 43UH610T television in December 2017. I am located in Navi Mumbai, Mumbai. Everything seems to be working fine, but when I click on any of the options, such as LGTV, YouTube etc, it tells me I must first consent to the LG Smart TV user agreement. However, I then get a message saying "Unable to load user agreements - a server error has occurred.
I have gone through the below mentioned steps for resolving the issue but it didn’t worked.
For those of you still suffering from the same problem, here's an interim solution after 90 minutes on the phone with LG's Level 2 support:
- Disconnect your TV from both wired and wifi internet access options.
- Activate a Hotspot for internet access (use your smartphone or any other hotspot device)
- Use Settings>Network>wifi and select your Hotspot as your wireless internet connection. Confirm that you are connected to the internet.
- From Settings>General>About this TV, select resetting your TV to factory settings
- Follow the screen process until you get to the point that it asks about downloading the LG user agreement. Do that. It should work this time that you are connecting thru the Hotspot.
Still the "Unable to download user agreement" issue is not resolved. Please advice or depute a technician to resolve the issue.
Regards,
Prasan Prasad
8199968781
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