Ragnarok — not to be confused with Thor: Ragnarok — is a new Netflix series about a Norwegian teen named Magne (David Stakston) who has superpowers. In the show, Magne and his brother Laurits (Jonas Strand Gravli) move back to their hometown of Edda, Norway, because of their mom’s new job at Jutul Industries. But Edda is no ordinary town — it’s the very place where mythological gods and giants fought one another to the death thousands of years ago. And now it’s seemingly a battleground for a different kind of war: Climate change. "Ragnarok," is essentially the end of the world (brought upon by Loki) in Norse mythology. Replacing Loki and other gods is Jutul Industries, the evil corporation that's directly having an effect on Edda’s strange, apocalyptic weather. Will Magne use his powers to defeat whoever (or whatever) is causing it?
Magne hasn’t always been a high schooler with superpowers. His new abilities are awakened as soon as he returns to Edda after a mysterious woman touches Magne’s face with her hand. He then realizes that he has superhuman strength, perfect vision, and a Thor-like ability to sync his powers (and emotions) with the weather (and yes, he can throw a hammer long-distance).
In Norse mythology, Magne is actually Thor’s son. There’s not a wealth of storytelling around Magne (or “Magni”), only that his name literally means “mighty,” he has a brother named Modi (which means “courage”), and that Magne owns a horse named Goldfaxi. Magni and Modi survive Ragnarok and help rebuild the planet after Loki and company decimate it.
In the Marvel comics, Magne is super fast, strong, is impervious to any and all human illnesses and diseases, has a much longer lifespan than humans (although he’s not quite immortal), knows some magic, and is even described as being stronger than his dad.
Aside from Magne’s abilities, Marvel.com describes his temperament as loving and kind. He clashes with his Uncle Loki, who is abusive toward humans (Magne believes all beings should be treated equally). So, basically, Magne is a real mensch.
Magne eventually turns against his own father when he realizes Thor isn’t a good leader for Earth or Asgard. It’s not that Thor is a “bad” guy or anything — his style of ruling is just kind of sloppy, and Loki has a lot more power than he should. Asgardian soldiers routinely attack and kill humans, and Magne is not okay with this. At one point in the comics, a mutant named Kya takes him to where New York used to be and informs him that he should be the one ruling over Asgard and Earth. Magne is able to lift the Mjolnir, and realizes that he’s more worthy of being a king than his dad is.
Ragnarok is, of course, an iteration of Norse mythology, and completely separate from the Marvel Universe. Think of Netflix’s Ragnarok as a modern day retelling of the mythological story of Magne and Ragnarok. Instead of being Thor’s son, Magne is a powerful teenager who uses his special abilities to fight the Jutul family and save Edda from destruction.