A Canadian Partner of LG Electronics
Magna International, a Canadian mobility technology company that established a joint venture with LG Electronics, will produce battery packs for SK On. A joint battery factory between LG Energy Solutions and Stellantis is also scheduled to be built near Magna's production plant.
The Canadian company has been recently selected as a manufacturer of battery pack housings for Ford’s electric vehicles. Magna will build a battery pack plant on a site of about 16,530 square meters in Windsor, Ontario, Canada. The company is planning to start the operation of the plant within this year.
Magna did not disclose the plant’s annual production capacity, but its production volume is expected to be substantial, given that it will produce battery packs for the F-150 Lightning, the best-selling electric pickup truck among Ford's electric vehicles. Magna will supply battery packs to a Ford plant about 100 km away. Battery cells used here are supplied by SK On’s Georgia plant in the United States.
Industry insiders believe that Magna’s Ontario plant is highly likely to produce battery packs using LG Energy Solution's battery cells in the future. This is because LG Energy Solution and Stellantis decided in March to establish a battery plant in Ontario. Ground will be broken for the plant in the second quarter of this year, with operation slated to begin in the first quarter of 2024.
Meanwhile, LG Electronics set up LG Magna e-Powertrain, a 51:49 joint venture, with Magna International, the world’s third-largest auto parts maker, in July 2021.