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    Magna to buy Wipac Czech to expand lighting capabilities
    Magna has agreed to acquire Wipac Czech s.r.o., a Czech Republic–based supplier of premium automotive lighting products, according to a company press release on 20 November. The transaction is expected to close by this month-end. Wipac Czech s.r.o. designs and develops automotive forward lighti...
    Magna’s sales decline 3.1% y/y to USD9.3 billion in Q3
    Magna has reported 3.1% year-over-year (y/y) decline in net sales to USD9.3 billion in the third quarter ended 30 September 2019, the leading Canadian automotive supplier said in a press release on 8 November. Sales, excluding the impact of foreign exchange currency translation and divestures net of...
    Magna wins multi-year supply order for transmissions technologies from BMW
    Magna has won a multi-year order from BMW to supply transmission technologies, the Canadian supplier announced in a press release on 30 October. The contract includes all front-wheel drive dual-clutch transmissions, including hybrid transmission variants. The transmissions will be produced at Magna ...
    Magna to develop more advanced electric motor for EVs
    Magna is planning to develop a more advanced electric motor for electric vehicles (EV) which will be more powerful and affordable, the company announced in a press release on 30 October. Magna will partner with Illinois Institute of Technology, the University of Wisconsin-Madison and the United Stat...
    31-Oct-2019 News New Products
    Magna commences production of EV electric drives in China plant for Volkswagen
    Magna has commenced production of electric vehicle (EV) electric drive systems for the Volkswagen (VW) Group in Shanghai plant in China, Automotive News Canada reported on 21 October. The electric drive systems will be equipped in Volkswagen and Audi’s next-generation EV manufactured in both ...
    Evergrande partners with five auto engineering firms for new EVs
    Evergrande New Energy Automotive Group has partnered with FEV Group, EDAG Engineering Group and IAV Group in Germany, AVL Group in Austria and Magna Group’s Europe business, to jointly undertake research and development (R&D) and design of 15 new models, ranging from full-size luxury to midsiz...
    Balancing aerodynamic performance and cooling efficiency using AGS
    Active aerodynamics and the art of manipulating airflow Modern automotive aerodynamics is more complex than just creating a vehicle with the lowest coefficient of drag (Cd). Cd of a vehicle is a dimensionless number that determines how much air resistance a moving vehicle encounters. Therefore, ...
    Magna opens new electronics facility in US
    Magna has inaugurated a new electronics manufacturing facility in Grand Blanc Township, Michigan, United States, the company said on 14 August. Magna invested nearly USD50 million in the 230,000 ft2 facility in which the Canadian supplier has consolidated operations previously managed at i...
    16-Aug-2019 News Investments
    Magna’s Q2 net income down 27.8% y/y, to USD452 million
    Magna’s net income declined 27% year on year (y/y), to USD452 million, in the second quarter ended 30 June 2019, the leading Canadian automotive supplier said in a press release on 8 August. Sales declined marginally, by 1% y/y, to USD10.1 billion. Excluding foreign exchange translations and dives...
    Magna breaks ground on new seating structures plant in US
    Magna broke ground on a new seating structures plant in Lancaster, Ohio in the United States, according to a company press release on 30 July. The construction at the site has recently started on the 150,000-square-foot facility with an initial investment of approximately USD60 million, the com...
    Toyota expands collaboration with Didi Chuxing for mobility services in China
    Toyota has reached an agreement with Didi Chuxing to expand their collaboration in Mobility-as-a-Service (MaaS) in China, the Japanese automaker said in a press release today (25 July). At part of the agreement, Toyota has agreed to invest USD600 million in Didi Chuxing. Toyota and Didi Chuxing also...
    Suppliers to the new Chevrolet Silverado HD
    The fourth-generation Chevrolet Silverado HD is assembled at the Oshawa, Canada, facility. According to IHS Markit production forecasts, output of the new-generation Chevrolet Silverado from the plant is expected to peak in 2019, at more than 242,000 units. If you would like your company...
    Magna launches ‘FreeForm’ seat trim technology
    Magna has launched ‘FreeForm’ seat trim technology that offers endless design possibilities, high seat concavity, improved comfort, and enhanced cleanability, according to a company press release on 13 June. Magna said FreeForm process is flexible and can be used in both low- and high-volume veh...
    14-Jun-2019 News New Products
    New exterior design language
    Every vehicle has a unique identification in terms of design, performance, and features. From a design perspective, it includes interior and exterior lighting systems—the most recognizable elements on a new model. Premium vehicles, such as those of Audi, BMW, and Mercedes-Benz, have simple brand d...
    Magna’s Q1 net income up 67.5% y/y to USD1.1 billion
    Magna’s net income increased 67.5% year on year (y/y) to USD1.1 billion in the first quarter ended 31 March 2019, the leading Canadian automotive supplier said in a press release on 9 May. Sales for the quarter, however, fell 1.8% y/y to USD10.6 billion. Despite the lower sales, Magna recorded a 6...
    Role of lighting system in V2X structure
    Lighting serves as a communication medium between humans and cars and will continue to serve as long as human and vehicles coexist on the same roads. Even self-driving vehicles need light to make sure people see and understand cars for better road safety. In the automotive industry, the move...
    Magna strengthens presence in China with two new plants
    Canadian automotive supplier Magna has expanded its presence in China by opening two new manufacturing plants, the company said in a press release on 30 April. Magna’s first plant, located in Changsha, started production of composite liftgates for a crossover vehicle; the company has not the discl...
    02-May-2019 News Investments
    Magna completes acquisition of seat structures and systems supplier VIZA Geca
    Canadian supplier Magna has completed its previously announced acquisition of Spain-based automotive seat structures and systems supplier VIZA Geca, according to a company press release on 29 April. VIZA operates four manufacturing facilities – one each in Spain, the Czech Republic, Morocco and Me...
    Magna starts building new facility in Morocco to produce exterior and interior mirror systems
    Canadian supplier Magna broke ground on construction of a new facility in Kenitra, Morocco, to produce exterior and interior mirror systems, according to a company press release on 23 April. The company is investing USD11.3 million in the new 61,400-square foot facility, which is expected to create ...
    24-Apr-2019 News Investments
    Suppliers to the new Bentley GT
    The third generation Bentley GT is assembled at Crewe, United Kingdom. According to IHS Markit production forecasts, output of the new generation Bentley GT from the plant is expected to peak in 2018 at more than 6,700 units. If you would like your company included in...
    High Definition lighting systems
    Since the introduction of LED technology, the lighting industry is exploring ways in multiple directions, and three are particularly important. The first is design and styling, which influence the construction of a lighting system. Second, energy efficiency solutions, which are redefining lighting p...
    Magna Seating of America plans to build new manufacturing facility in US state Ohio
    Magna Seating of America Inc. plans to build a new facility in the Rock Mill Industrial Park, Lancaster, in central Ohio (United States), according to a press release on the website of Governor of Ohio on 25 March 2019. The company is investing USD14.5 million in the facility, which will manufacture...
    03-Apr-2019 News Investments
    Seating Subsystem Lightweighting
    The seating subsystem in the interiors component area is estimated to account for more than 40% of the total component area weight and up to 6% of the total vehicle weight. In terms of additional comfort and luxury features, one of the first targets for OEMs is to improve the driving experience even...
    Magna completes sale of its Fluid Pressure & Controls business to Hanon Systems
    Magna has completed the sale of its Fluid Pressure & Controls (FP&C) business to Hanon Systems, the company announced in a press release on 29 March. Hanon will take over 10 manufacturing and engineering facilities from Magna across Europe, North America, and Asia, and approximately 4,200 em...
    Geneva Motor Show 2019: Magna showcases complete vehicle engineering capability
    Magna is showcasing its complete vehicle engineering competence at the 2019 Geneva Motor Show in Switzerland, the company said in a press release last week. The company’s displays at the show include an SUV for VinFast, a Vietnam-based vehicle manufacturer. Magna Steyr, the complete vehicle engine...
    11-Mar-2019 News New Products
    Magna tests electric propulsion systems in Sweden’s icy conditions
    Magna has winter tested its electric propulsion systems on a frozen test track in northern Sweden in its new e2 prototype vehicle and current production vehicles, the company announced in a press release on 27 February. The company has tested the technologies, including full-electric, high-voltage a...
    Magna FY2018 net income rises 4.5% y/y to USD2.29 billion on record sales
    Magna’s net income increased 4.5% year-over-year (y/y) to USD2.29 billion in the financial year ended 31 December 2018, the leading Canadian automotive supplier said in a press release on 22 February. Sales were up 11.6% y/y and reached record high at USD40.5 billion. Magna recorded income from co...
    Are self-dimming and glare-free headlights finally coming to the U.S.?
    Megatrends in the automotive industry have revolutionized the approach of automakers and tier-1 suppliers towards lighting components. From bulky designs to sleek designs, exterior lighting systems have travelled a long way in terms of technology and design, with increased attention from automakers ...
    Magna, Lyft partnership completes road testing of ride-sharing pilot with Level 5 vehicles
    At the 2019 North American International Auto Show (NAIAS) in Detroit, Michigan (United States) earlier this month, Magna provided an update on the progress made by its strategic partnership with Lyft on autonomous driving. According to a company’s press release, in the first year of the collabora...
    Magna announces financial outlook for 2019, 2021
    Magna International has announced its financial outlook for 2019 and 2021. According to the company’s press release on 15 January, for 2019, the company forecasts total sales in the range of USD40.2 billion to USD42.4 billion; net income attributable to Magna between USD2.1 billion and USD2.3 bill...
    Magna's subsidiary Lordstown Seating Systems plans to close US plant
    Magna’s subsidiary Lordstown Seating Systems plans to cease production at its plant in Ohio, United States ,before 1 March, according to a notice on the Ohio Department of Job and Family Services dated 14 December. The closure will result in 120 job losses. Significance: Lordstown Seating Syste...
    Magna develops thermoplastic liftgate for MY 2019 Jeep Cherokee
    Magna has developed a fully recyclable thermoplastic liftgate for Fiat Chrysler Automobiles’ (FCA) model year 2019 Jeep Cherokee, according to a press release on 19 December. “Working very collaboratively with FCA, we were able to help them replace their previous steel liftgate with a thermoplas...
    Magna acquires Spain-based VIZA Geca to bolster seating business
    Magna has signed an agreement to acquire Spain-based automotive seating supplier VIZA Geca, the company said in a press release yesterday (18 December). The acquisition, pending regulatory approvals, is expected to close by the end of the first quarter 2019. VIZA  operates four manufacturing...
    CES 2019: Magna to showcase solutions for electrification, autonomy and smart mobility
    Magna will showcase its advanced solutions for electrification, autonomous driving and smart mobility at the CES 2019 in Las Vegas, Nevada (United States), next month, the company said in a press release on 13 December. The exhibit will include multiple powertrain configurations with scalable electr...
    Magna introduces innovative seating concepts for vehicles
    Magna has developed innovative seating platform for vehicles. According to a company press release on yesterday (10 December), the new concept seat ecosystem includes three specific configurations to address changing needs of the market – car sharing, long road trip and autonomous ride sharing. Fo...
    11-Dec-2018 News New Products
    Magna opens new mechatronics engineering center in China
    Magna has opened a new mechatronics engineering center in Suzhou, Jiangsu Province (China), according to a company press release on 5 December. The center will design and develop smart mechatronics products for both Chinese and global markets, including Magna’s SmartAccess, an intelligent electric...
    06-Dec-2018 News Investments
    Disconnect All-Wheel Drive
    All-wheel drive (AWD) and four-wheel drive (4WD) systems are widely offered in sport utility vehicles (SUV) and pick-up trucks, under Gross Vehicle Weight (GVW) of 3.5 tons. This is largely due to increasing consumer demand for AWD from the traditional front-two or rear-two-wheel drive systems. With...
    Magna's Q3 net income up 8.2% y/y to USD554 million on higher sales
    Magna’s net income increased 8.2% year over year (y/y) to USD554 million in the third quarter ended 30 September 2018, the Canada-based automotive supplier said in a press release on 8 November. Sales in the quarter were up 8.5% y/y, to USD9.62 billion. Excluding the impact of foreign currency tra...
    New tail lamp designs and technologies
    The automotive lighting industry is progressing rapidly, with the lighting systems’ role pertaining to safety, aesthetics, customization, and vehicle autonomy. In terms of design, automakers are leveraging newer light sources such as LED (light emitting diode), OLED (organic light emitting diode) ...
    Magna acquires motion control software specialist Haptronik
    Magna has signed an agreement to acquire Haptronik, a Germany-based company specializing in advanced motion control software, the company said in a press release on 25 October. Haptronik develops algorithms that enhance motion control and touch and feel of power systems such as door and liftgat...
    Magna opens new plant in Czech Republic; to supply seating systems to BMW
    Magna has opened a new plant in Chomutov, Czech Republic to manufacture seating systems for BMW, the company said in a press release on 11 October. The plant, with a production area of 6,000 square meters, has annual capacity to produce more than 360,000 seat sets. The plant will supply seating syst...
    Hanon Systems to acquire Magna's global Fluid Pressure & Controls Business
    Hanon Systems has signed an agreement with Magna to acquire its global Fluid Pressure & Controls Business, the company announced in a press release on 20 September. The deal has been valued at USD1.23 billion before the assumption of net debt and pension liabilities at closing, and subject to cu...
    Magna, Rohinni form JV in US to produce ultra-thin micro LED lighting solutions
    Magna International’s subsidiary Magna Electronics has formed a joint venture (JV) with Rohinni, a developer and producer of lighting solutions, to produce ultra-thin micro LED lighting solutions for automotive application, according to a press release by Magna on 28 August. The JV, ‘Magna Rohin...
    30-Aug-2018 News New Products
    Magna Q2 net income rises 14% y/y to USD626 million on higher sales
    Magna has reported 14.2% year-over-year (y/y) increase in net income to USD626 million for the second quarter ended 30 June 2018, the company said in a press release today (8 August). Sales in the quarter increased 12.5% y/y to USD10.28 billion driven by new program launches. Apart from organic grow...
    EDITORIAL – Automotive lighting industry expected to see increased collaboration, consolidation
    With the dawn of self-driving cars, the automotive lighting technology is set to undergo a significant change, both in terms of complexity and functionality. Consequently, suppliers are now faced with the challenge to develop intelligent exterior and interior lighting solutions, which will play a ke...
    Magna's subsidiary Bowling Green Metalforming plans expansion at US facility
    Magna’s subsidiary Bowling Green Metalforming LLC (BGM) plans to expand its facility in Warren County, Kentucky (United States), according to a press release on Kentucky.gov website on 2 July. The company plans to invest USD14.2 million in the expansion, which is expected to create 27 jobs at...
    04-Jul-2018 News Investments
    Types of light source and their market overview
    In the past few years, automobiles have covered a lot of distance, moving from halogen headlamps to light-emitting diode (LED) headlamps. As the automotive industry grows, consumers are looking toward new lighting solutions that increase their comfort. There are three types of light sources that wor...
    Magna signs deal to acquire Italian lighting supplier OLSA
    Magna International has signed a deal to acquire Italy-based OLSA S.p.A., a manufacturer of automotive lighting products, the company announced in a press release on 28 June. According to Magna, the transaction value, on a cash- and debt-free basis, is approximately EUR230 million (about USD267 mill...
    Magna to set up two new JVs with BJEV for EVs in China
    Magna is set to establish two new joint ventures (JV) with Beijing Electric Vehicle (BJEV) for electric vehicles (EV), the company announced in a press release today (18 June). While one JV will be for complete vehicle manufacturing, the other JV will be for engineering of EVs. The engineering and m...
    Magna launches new 48-volt mild-hybrid transfer case
    Magna has developed a new a 48-volt mild-hybrid transfer case, the company announced in a press release on 14 June. According to the Canadian supplier, the ‘etelligentDrive eDS 48V High Performance System’ delivers CO2 savings of up to 10% and better fuel efficiency compared to a two-wheel drive...
    Magna Steyr to produce new BMW Z4 roadster
    Magna, through its car-making subsidiary Magna Steyr, will manufacture the new BMW Z4 roadster at its plant in Graz, Austria, the company announced in a press release yesterday (5 June). Production is scheduled to start at the end of 2018. “Our expertise in complete vehicle engineering and prod...
    Magna develops new door latch to improve door quality and cabin quietness
    Magna has developed ‘Comfort+’ door latch to offer smooth opening and closing of vehicle doors, while maintaining quietness of the cabin. According to a company press release yesterday (23 May), the Canadian supplier has already won its first production contract to supply the new type of latch t...
    24-May-2018 News New Products
    Magna, Renesas to accelerate mass adoption of 3D surround view system
    Magna has joined forces with Renesas Electronics to develop affordable three-dimensional (3D) surround view system for entry and mid-range vehicles, the two companies said in a press release on 17 May. The 3D surround view system will feature Renesas’s system-on-chip (SOC) technology, which integr...
    Magna's Q1 net income up 14.3% y/y to USD660 million
    Magna’s net income jumped 14.3% year on year (y/y) to USD660 million in the first quarter ended 31 March 2018, according to a company press release on 10 May. The company’s net sales for the quarter were up 21% y/y to USD10.8 billion. During the first quarter of 2017, adjusted EBIT inc...
    Magna opens new aluminum casting facility in UK
    Magna has opened a new aluminum casting facility in Telford, United Kingdom, that will supply structural castings to Jaguar Land Rover, according to a company press release yesterday (8 May). “With this new aluminum casting facility, we have established a world-class center of excellence to bring ...
    09-May-2018 News Investments
    Magna to supply solid-state Lidar for BMW’s upcoming autonomous vehicle production platforms
    Magna, along with its partner Innoviz Technologies, will supply solid-state Lidar for BMW’s upcoming autonomous vehicle production platforms, the Canada-based supplier announced in a press release yesterday (26 April). The financial terms of the deal and the make and model of the vehicle were not ...
    27-Apr-2018 News New Products
    Magna, BHAP to form new JV in China to manufacture door modules
    Magna and Beijing Hainachuan Automotive Parts Co Ltd. (BHAP) will form a new joint venture (JV) to supply door modules to automakers in China, Magna announced in a press release yesterday (26 April). The companies will establish a new facility in Beijing, China. The facility, which is expected ...
    27-Apr-2018 News Investments
    Magna supplies carbon fiber subframe to Ford
    Canadian auto parts supplier Magna has delivered a prototype of its advanced carbon fiber subframe to Ford, Automotive News reported on 21 April. The company plans to put the carbon fiber subframe into mass production by the end of the year. The subframe has been installed in the front of a Ford Fus...
    23-Apr-2018 News New Products
    Magna opens new body and chassis manufacturing facility in Mexico
    Canadian auto parts supplier Magna International, through its subsidiary Cosma, has opened a new plant in San Luis Potosi, Mexico, according to a company press release yesterday (19 April). The 189,000-square-foot plant will produce structural welded assemblies for global automakers such as BMW and ...
    20-Apr-2018 News Investments
    Automotive Intelligent Glass Technology Outlook
    Glass plays a crucial role in a vehicle’s ability to offer security and safety for its occupants. Intelligent glass controls and modifies properties of light that passes through it. Previously, the application of intelligent glass was limited to only architectural and construction purposes. Howeve...
    Magna forms JV with GAC Component in China to produce composite liftgate
    Magna has entered into a joint venture (JV) with GAC’s subsidiary, GAC Component Co. (GACC) to manufacture composite liftgates for a global automaker’s crossover vehicle starting in late 2018, the Canadian supplier said in a press release yesterday (2 April). The company did not reveal the name ...
    Magna to provide vehicle engineering services to Vietnamese automaker VinFast
    Magna has entered a cooperation agreement to provide complete vehicle engineering and development services to Vietnam-based VinFast Manufacturing and Trading Company Limited, the company said in a press release on 29 March. Under the agreement, Magna’s complete vehicle assembly team will be r...
    Magna opens new plant in US to produce seats
    Magna has opened a new plant in Spartanburg, South Carolina (United States) to supply seats to the BMW Group, the company said in a press release on 26 March. The 230,000-square-foot plant is strategically located near the German automaker’s vehicle manufacturing plant in Spartanburg. At the op...
    27-Mar-2018 News Investments
    Magna opens composites center in Germany
    Magna has opened a new composites center of excellence in Esslingen near Stuttgart in Germany, the Canadian automotive parts supplier announced in a press release yesterday (7 March). The new Composites Center of Excellence will focus on development of lightweight structural components, such as vehi...
    08-Mar-2018 News Investments
    Magna Steyr begins production of Jaguar I-PACE
    Magna Steyr has started production of Jaguar’s first all-electric vehicle I-PACE, the company announced in a press release on 2 March. This was also the world premiere of the new Jaguar I-PACE. Magna Steyr is contract manufacturing the electric sport utility vehicle (SUV) at its vehicle manufactur...
    Magna, Multimatic, Ontario University team up on aerodynamic project
    The Canadian province of Ontario has partnered with the University of Ontario Institute of Technology (UOIT), Magna, and Multimatic on an aerodynamic project aimed at upgrading an existing research center, according to Ontario's official news source. Under the project, Ontario will invest USD4 milli...
    28-Feb-2018 News Investments
    Magna’s 2017 net income up 8.6% y/y to USD2.2 billion
    Magna’s net income grew 8.6% year on year (y/y) to USD2.2 billion in the fiscal year ended 31 December 2017, according to a company press release yesterday (22 February). The company’s net sales for the year were up 6.8% y/y to USD38.94 billion. The company reported income from operations before...
    Suppliers to the new Audi A8
    The fourth generation Audi A8 is built on MLB D platform and assembled at Neckarsulm in Germany. According to IHS Markit production forecasts, output of the new generation Audi A8 from the plant is expected to peak in 2018 at more than 40,700 units. If you would like your comp...
    NAIAS 2018: Magna introduces active air dam on Ram 1500 pickup truck
    Magna is exhibiting its aerodynamic air dam systems at the 2018 North American International Auto Show (NAIAS) in Detroit, United States, the supplier announced in a press release yesterday (17 January). The company has debuted its new active air dam on the model year 2019 Ram 1500 pickup truck. The...
    18-Jan-2018 News New Products
    Magna expects sales between USD39.3 billion and USD41.5 billion in 2018
    Magna has released its financial outlook for 2018 and 2020, according to the company’s press release. In the financial year ending 31 December 2018, the company expects sales to total between USD39.3 billion and USD41.5 billion, and EBIT margin between 7.9% and 8.2%. The company also forecasts net...
    NAIAS 2018: Magna unveils ICON radar for autonomous driving applications
    Magna has introduced its ICON radar sensor for advanced driver assistance systems (ADAS) and autonomous driving applications at the North American International Auto Show (NAIAS) in Detroit, Michigan (United States), the company said in a press release on 15 January. According to the Canadian suppli...
    16-Jan-2018 News New Products
    Magna announces completion of second share repurchase program
    Magna has completed the second of two share repurchase programs, the company announced in a press release on 29 December. The Canadian supplier repurchased 395,100 common shares for CAD27.5 million (USD21.8 million). The share repurchase program was commenced pursuant to an issuer bid exemption orde...
    Magna realigns management structure, reporting segments
    Magna International has announced plans to realign its management structure along product lines, the leading Canadian auto parts supplier said in a press release yesterday (19 December). The company will also realign its operating divisions to create four key product segments – Body Exteriors &...
    CES 2018: Magna to showcase ‘etelligentDrive’ systems
    Magna has developed a new ettelligentDrive system for electric vehicles (EV). The company will display the system at CES 2018 next month in the United States, the company announced in a press release on 15 December. Magna will also display its e1 demonstration concept vehicle, which will be used to ...
    Magna Q3 net income remains stable at USD503 million despite 7% y/y growth in sales
    Magna’s net income remained stable at USD503 million in the third quarter ended September 2017, according to a company press release on 9 November. The company’s net sales for the quarter were up 7% year-on-year (y/y) to USD9.5 billion. During the third quarter of 2017, adjusted EBIT decreased 3...
    Magna expands mirrors capacity in Slovakia
    Magna has relocated its automotive mirror manufacturing operations to a new larger facility in Nove mesto nad Vahom, Slovakia, according to a company press release. The company has invested USD30 million to refurbish the building and install a new automated paint line. The expansion is expected to c...
    01-Nov-2017 News Investments
    Magna develops torsional welding process to join plastics
    Canadian supplier Magna has developed a new torsional welding process at its exteriors plant in Liberec, Czech Republic, according to a company press release last week. The torsional welding method involves a high-speed twisting motion that generates enough friction-based heat to join a plastic brac...
    Magna creates joint venture in China with Huayu Automotive Systems
    Magna has entered into a joint venture (JV) agreement with Huayu Automotive Systems Co., Ltd., a subsidiary of SAIC Motor. The JV will initially produce an electric-drive powertrain system for a German automaker. Initially, the JV will leverage Magna's e-drive system with a focus on the productio...
    Magna begins construction of new paint line in Slovenia
    Magna has started construction of new car paint line at Maribor/Hoče in Slovenia, the Canadian supplier said in a press release on 17 October. The company is investing USD100 million in the new facility, which will complement Magna Steyr’s existing paint facility in Graz, Austria. The constructio...
    18-Oct-2017 News Investments
    Magna joins BMW, Intel and Mobileye to develop autonomous driving platform
    Magna has joined a consortium of BMW, Mobileye and Intel which is collaborating on developing autonomous driving platform, the company said in a press release on 10 October. The Canadian supplier has joined the consortium as a technology integrator and will help the founding partners to bring the au...
    IAA Frankfurt Motor Show 2017 – Materials Insights
    The International Auto Exhibition – IAA 2017 – recently took place at Frankfurt from September 14 to September 24, 2017. The event showcased many interesting vehicle premiers from the OEMs and also provided a sneak peak into the technology and market landscape of the future for both the OEMs and...
    Magna partners with StartUs Insights to strengthen innovation in Europe
    Magna has entered a partnership with StartUs Insights to create deeper connections with start-up community in Europe, the company said in a press release on 28 September. StartUs Insights connects its partners with the start-up community. The company uses networking and algorithms to closely monitor...
    Magna opens new engineering center in China
    Magna International has opened a new engineering center in Shanghai, China to bring latest mirrors and vision systems to automakers and drivers, the Canadian supplier announced in a press release yesterday (19 September). The center is expected to create up to 100 jobs. Significance: Through the ...
    20-Sep-2017 News Investments
    Magna sets up new facility for high-pressure aluminum casting in US
    Canadian auto parts supplier Magna has expanded its operations in Birmingham, Alabama (United States) by adding a new 150,000-square foot facility for high-pressure aluminum casting, the supplier announced in a press release last week (8 September). The company invested USD60 million in the expansio...
    11-Sep-2017 News Investments
    IAA 2017: Magna unveils MAX4 self-driving platform
    Magna has unveiled MAX4, a fully integrated and scalable autonomous driving platform that can offer up to Level 4 autonomy in both urban and highway environments, the Canada-based automotive supplier said in a press release on 31 August. The new platform combines radar, Lidar and ultrasonic sensors ...
    01-Sep-2017 News New Products
    Magna invests in solid-state Lidar start-up Innoviz
    Magna has made a strategic investment in Innoviz Technologies, an Israel-based start-up specializing in solid-state Lidar technology for autonomous vehicles, the company said in a press release on 29 August. The investment strengthens the ongoing collaboration between the two companies, which starte...
    Magna gets Slovenian government’s approval to build car paint plant
    Magna has received approval from the Slovenian Environment Agency to start construction of a car paint factory in the Hoce-Slivnica region, in northeast Slovenia, SeeNews reported on Friday (11 August). According to the report, the Agency assessed the potential impact of the paint factory on natural...
    14-Aug-2017 News Investments
    Magna’s Q2 sales up 3% y/y to USD9.6 billion
    Magna has reported a 3% year-on-year (y/y) growth in its net sales to USD9.68 billion for the second quarter ended 30 June 2017, according to a company press release today (11 August). Net income for the period increased marginally to USD561 million, compared to USD558 million in the corresponding q...
    Magna CEO believes auto industry’s EV, autonomous vehicle forecast are ‘optimistic’
    Automakers are “overly optimistic” when it comes to the market potential of electric vehicles (EV) and timeline regarding when fully autonomous vehicle will arrive, Automotive News quoted Dan Walker, CEO of Magna International, as saying. While speaking at a seminar, Walker took some industry fo...
    Magna, Continental provide demo autonomous vehicles for cross-border testing
    On Monday (31 July), first cross-border test of autonomous vehicles in North America was conducted when self-driving cars drove from Michigan in the United States to Ontario in Canada, according to a press release by Ministry of Transportation, Ontario on 31 July. The test drive began from downtown ...
    Magna says new labor laws could threaten investments and jobs in Ontario – report
    Canadian automotive supplier Magna has warned that the proposed changes to Ontario labor law would make doing business in the province ‘nearly impossible’ for the company, Automotive News reported on 21 July. The Ontario state is inviting public response on its ‘Fair Workplaces, Better Job Act...
    Magna Steyr to produce Jaguar E-Pace mini SUV
    Jaguar Land Rover (JLR) has selected Magna Steyr, a business unit of Canada-based automotive supplier Magna International, to produce its all-new E-Pace mini sport-utility vehicle (SUV), JLR announced in a press release today (14 July). The mini SUV will be produced at Magna Steyr’s plant in Graz,...
    Magna warns of investing elsewhere in Europe if Slovenia does not approve its plan soon – report
    Canada-based automotive supplier and contract vehicle manufacturer Magna said it will invest elsewhere in Europe if Slovenia does not soon approve the first phase of its planned production site, Reuters reported last week. "We are working on a Plan B, but I cannot go into details regarding this. Slo...
    Magna aims to double sales in China by 2019
    Canadian auto parts supplier Magna International aims to double its sales in China by 2019, reports Automotive News China. Magna Asia President Jim Tobin was quoted as saying, "Our financial forecasting indicates we are going to be in the range of USD6 billion (CNY40 billion) by 2019.” The company...
    Magna supplies components for 2017 Lincoln Continental
    Canadian auto component supplier Magna is supplying a number of components for the 2017 Lincoln Continental, according to a company press release on 22 June. Magna is supplying components such as 30-way seats, SmartLatch door-latching system, advanced driver-assistance systems (ADAS), and exterior s...
    Magna to produce BMW 530e plug-in hybrid at Austrian plant
    Magna, through its car-making subsidiary Magna Steyr, will manufacture BMW 530e plug-in hybrid at its plant in Graz, Austria, the company announced in a press release on 19 June. "We are excited to be adding another electrified vehicle architecture to our line-up. Vehicle electrification is a growin...
    Magna looks for partner for hydrogen fuel-cell range extender – report
    Canadian auto parts maker Magna is looking for a partner for its hydrogen fuel-cell range extender technology for electric vehicles, reports Automotive News. “We are just a contract manufacturer. Our OEMs are our customers so we’ll offer this to our customers that we have the capability and the ...
    Magna unveils D-Optic LED headlamps, to debut on 2018 Chevrolet Traverse
    Canada-based auto parts supplier Magna has unveiled D-Optic LED headlamps, the company said in a press release yesterday (13 June). The company is manufacturing D-Optic headlamps at its new automotive lighting facility in Plymouth, Michigan (United States). The new headlamps will debut on the 2018 C...
    14-Jun-2017 News New Products
    Magna collaborates with RocketSpace to push innovation in mobility
    Magna is partnering with US-based technology accelerator RocketSpace to gain access to start-ups working on automotive innovation in areas including connectivity, autonomy and electromobility. Magna will join RocketSpace’s Mobility Tech Accelerator Program and mentor technology start-ups. Under...
    Magna expands seat trim facility in Serbia
    Magna is expanding its seat trim facility in Odžaci, Serbia to accommodate new business, the Canada-based supplier said in a press release yesterday (30 May). Magna is investing USD3.5 million in the expansion. The investment will expand the Serbian facility from the 4,300 square meters currently t...
    31-May-2017 News Investments
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