Magna has announced its intention to form two new joint ventures with Beijing Electric Vehicle Co. Ltd (BJEV) for complete vehicle manufacturing as well as engineering of electric vehicles. BJEV, a subsidiary of the BAIC Group for electric cars, and Magna, a global automotive supplier and the world’s leading brand-independent vehicle contract manufacturer, gathered today […]
Magna has developed the Comfort+ door latch to provide quality doors and quieter car cabins. It has secured its first production contract to supply the new latch to a European automaker. Comfort+ turns sliding friction into rolling friction within the mechanics of the door latch, which significantly reduces the efforts required to open and close […]
Renesas Electronics Corporation and Magna aim to accelerate the mass adoption of advanced driving assistance system (ADAS) feature with a new cost-efficient 3D surround view system designed for entry and mid-range vehicles. The 3D surround view system adopts Renesas’ high- performance, low-power system-on-chip (SoC) optimized for the smart camera and surround view systems. By enabling […]
Beijing Automotive Industry Holding Company Limited (BAIC) Group and Magna will jointly develop a next-generation smart electric vehicle architecture for the Chinese market. China sold around 700,000 electrified cars in 2017. By 2020, the number of all-electric cars on China’s roads is forecast to reach around five million, due in part to subsidies and quotas […]
Mobility technology company Magna and North America’s fastest growing rideshare company Lyft have inked a multi-year collaboration to jointly fund, develop, and manufacture self-driving systems. In addition to self-driving vehicles that will be deployed on Lyft’s own ridesharing network in the coming years, Magna has the ability to deploy the technologies across a wide range […]
By T Murrali: Magna International Inc., a leading global automotive supplier, which has 328 manufacturing plants and 99 product development, engineering and sales centres in 29 countries, is setting up on an average 10 new plants a year, mostly in Asia. With its vision to be the customers’ preferred global supplier partner for the automotive […]
Global automotive supplier Magna has relocated to a larger mirror manufacturing facility in Slovakia. The company is investing $30 million to refurbish the building and install a new automated paint line, and the expansion will create approximately 150 new jobs at the facility. The new facility is approximate twice the size of the previous location […]
Jaguar Land Rover has revealed that its Jaguar E-PACE compact SUV will be built by Magna at its contract vehicle manufacturing facility in Graz, Austria. E-PACE production is expected to begin in the fourth quarter of 2017. It is the second model Magna will contract manufacture for Jaguar, following the announcement of the Jaguar I-PACE […]
By T Murrali The global automotive supplier with 309 manufacturing operations and 99 product development, engineering and sales centres in 29 countries, Magna International, is accelerating its drive to innovate. It has mandated all the 152,000 employees to deliver superior value to the customers through innovative products and processes, and world-class manufacturing. Magna has complete […]
Magna International Inc. (TSX: MG; NYSE: MGA) today announced its financial outlook for 2017, along with sales expectations for 2019. In this outlook we have assumed no material unannounced acquisitions or divestitures. In addition, we have assumed that foreign exchange rates for the most common currencies in which we conduct business relative to our U.S. […]
