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 Spencer Cook
I Bought a
link hidden, please login to view after having massive hassles with a Philips TV and BBC iPlayer, ITV player etc.
A friend recommended LG, so I bought one. NOW I find while you have iPlayer, ITV, Ch4, Ch5 players AREN'T available for my 2020 edition TV.
Is this going to be resolved or will I be returning the TV?
OK. I have a 2018 LG Smart TV model OLED65C8PUA. The TV 'magically' recognizes and (badly) displays/ plays the 2gb of photos, videos and audio residing on my Western Digital 4TB My Passport external hard drive I have. The problem is the TV is the ONLY device that WILL RECONIZE THE DRV! 8 diffirent computers running from Vista to Win 10 have given me 'DRV (x) is not accessable'. At one time the drv was password protected and it worked fine. The exact password was lost so I tried a number of variations and was able to finally unlock the drv and remove the password using WD Utilities. It worked for a bit and I was able to copy out a few files using a Surface Pro/ Windows 10 but it stopped and now with that Surface Pro and the other windows machines I get `D is not accessible. The parameter is incorrect'. I even put it on a Samsung smart TV - none will read the drv, ONLY THE LG! The LG also displays the DRV'S volume label and content filenames as well.
I want to copy these files before the drive fails as the catch here is the LG seems to produce one or two "unrecognized files' every time I use it and some of these videos are one-of family heirlooms! I want to avoid another $300 data recovery bill if possible. And if the LG can read it one would think there is a way forward.
Any suggestions will be most appreciated!
Since this update the Apple TV 4K can no longer connect to Dolby via HDMI. Immediately prior to this update - it worked.
Now, if you attempot to connect and set it to Dolby - the screen flashes the Apple TV screen on and off - it can't stabilze.
This happened immdeiately after the update.
Can I revert back to the prior software? Or, can you send me a version that does not have this issue.