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    Major revision for global light vehicle production forecast – what it means for OEMs’ technology deployment
    The IHS Markit light vehicle production forecast has been cut by 6.2% or 5.02 million units in 2021, and by 9.3% or 8.45 million units in 2022, to stand at 75.8 million units and 82.6 million units, respectively. For 2023, we have reduced the forecast by 1.05 million units or 1.1% to 92 million unit...
    What Fit for 55 means for all member nations in the European Union
    Unveiling a roadmap to make Europe the world’s first climate neutral continent by 2050, the European Commission rolled out the ‘Fit for 55’ package on 14 July 2021, proposing that the suggestions made by the governing body be made legally binding for all members of the European Union (EU). ...
    19-Aug-2021 Insights Policy & Regulation Pinned
    Magna expands in Eastern Europe by setting up new seating plant in Serbia
    Magna has expanded its European footprint by setting up new seating plant in Serbia, it said in a press release on 20 October. The facility is expected to increase workforce from approximately 780 currently to 1,000 employees by end of 2022. “Making this investment reflects the growth in demand fo...
    21-Oct-2021 News Investments
    Qualcomm, SSW Partners to buy Veoneer in USD4.5 billion deal
    According to an official press release from Veoneer dated 4 October, chipmaker Qualcomm Inc. and SSW partners have agreed to buy Swedish automotive technology group Veoneer for USD4.5 billion. SSW Partners will collaborate with Veoneer's management to ensure the continuation of Veoneer's cur...
    Magna announces termination of merger agreement with Veoneer
    Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for USD37 per share is a superior proposal under the terms of the previously announced merger agreement between Magn...
    Magna and Veoneer announce expiration of waiting period under HSR Act
    According to an official press release dated 21 September, Magna and Veoneer announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, or HSR Act, in connection with Magna's previously announced acquisition of Veoneer had expired. The waiting period expired...
    Veoneer files definitive proxy statement with SEC regarding merger with Magna
    Swedish automotive parts manufacturer announced via press release on 9 September that it had filed a definitive proxy statement with the Securities and Exchange Commission ahead of its October stockholder meeting in which Veoneer stockholders are expected to consider the announced merger agreement w...
    13-Sep-2021 News Mergers
    Magna to display EV, hybrid systems at IAA 2021 Mobility Show in Munich
    Canadian automotive component manufacturer Magna International plans to display its innovative powertrain solutions for electric and hybrid vehicles at the IAA 2021 Mobility Show, the company said in a press release on 1 September. It said that the visitors of IAA will be able to see the Mag...
    03-Sep-2021 News New Products
    Veoneer files preliminary proxy in connection with Magna merger agreement
    According to a press release on Cision News dated 20 August, the automotive technology company Veoneer announced that it has filed a preliminary proxy statement with the Securities and Exchange Commission as part of the process following the previously announced merger agreement with Magna Internati...
    Magna’s Mezzo Panel integrates lighting, cameras and ADAS into vehicle front ends
    Magna's new Mezzo Panel technology, according to an official press release dated 18 August , is reimagining the face and functionality of electric vehicle (EV) front ends. The fully integrated Mezzo Panel provides designers with a fresh canvas and engineers with the opportunity to seamlessly integra...
    19-Aug-2021 News New Products
    Magna Q2 2021 sales increase 110% y/y to USD9.03 billion
    Global automotive supplier, Magna has reported total sales of USD9.03 billion in the second quarter 2021, registering a y/y growth of 110%, the company said in its earnings release on 6 August. According to the company, revenues from body exteriors and structures contributed USD3.65 billion to ...
    Veoneer to start talks with Qualcomm over merger offer
    According to an official press release dated 8 August, Veoneer announced that the company's board of directors has determined that Qualcomm's proposal to acquire Veoneer (the "Qualcomm Proposal") would reasonably be expected to result in a "Superior Proposal," as defined in Veoneer's merger agreemen...
    Qualcomm offers to buy Swedish auto parts maker Veoneer for USD4.6 billion, topping Magna's bid
    According to an official press release dated 5 August, chipmaker Qualcomm had offered to buy Swedish auto parts maker Veoneer for USD4.6 billion, an 18.4% premium over a bid accepted by Veoneer's board in July by Canada's Magna International. "As the automotive industry continues to transform, it...
    LG Magna e-Powertrain JV launched
    LG Electronics and Magna International Inc. have signed the transaction agreement which establishes a joint venture (JV) between the two companies. According to a press release issued by Magna on 28 July, the new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea. ...
    ACQUISITION: Magna to acquire Veoneer for USD3.8 billion
    According to an official press release dated 23 July, Magna and Veoneer announced the signing of a definitive merger agreement in which Magna will acquire Veoneer, a leader in automotive safety technology. According to the terms of the agreement, Magna will pay USD31.25 per share in cash for all ...
    Magna to open new factory in North Macedonia to produce wing mirrors
    Canadian automotive systems supplier, Magna International Inc., has announced that it will establish a new production facility near Struga, in the southwestern part of North Macedonia. According to a report filed by Bulgaria-based news agency SeeNews on 1 July, this facility, which represents an inv...
    06-Jul-2021 News Investments
    Magna, LG to launch EV powertrain joint venture in July 2021
    LG Electronics and Magna will launch their new joint venture, LG Magna e-Powertrain, in July. According to a press release issued by LG on 3 June, this new JV will produce EV components that combine Magna’s know-how of electric powertrain systems and automotive manufacturing capabilities with LG...
    Fisker and Magna sign long-term manufacturing agreement
    Manufacturer of sustainable electric vehicles (EVs) and advanced mobility solutions Fisker announced that it has signed a binding agreement supporting manufacturing with Magna International Inc. According to a press release issued by Fisker on 17 June, the companies confirmed that production of...
    18-Jun-2021 News New Products
    Magna introduces surface element lighting technology
    Global tier-1 supplier of automotive components, Magna International has developed an all-new surface element lighting technology, which offers a new palette of options for the automotive designers, the company said on 7 June 2021. First introduced on Volkswagen’s pure electric model ID.4, Magn...
    09-Jun-2021 News New Products
    Magna to build vehicle mirror plant in South Carolina, US
    Canadian auto parts supplier Magna International Inc. is building a new plant in the South Carolina, US, to manufacture vehicle mirrors, according to a report by Automotive News on 27 May 2021. The company is investing USD31 million in the new plant near Spartanburg that will supply to BMW, Mer...
    28-May-2021 News Investments
    Magna Q1 2021 sales rise 17.6% y/y to USD10.18 billion
    Canada-based automotive components and systems supplier, Magna International, has published its financial results for the first quarter of the 2021 fiscal year. In a press release issued by Magna on 6 May, the company announced that it registered sales of USD10.18 billion, which implies a climb of 1...
    Magna commits to carbon neutrality in global operations by 2030
    Magna enters a new era in its sustainability journey with its announcement to achieve carbon neutrality in its operations by 2025 in Europe and by 2030 globally. “While sustainability has long been ingrained in Magna’s culture, this decade will be our most decisive yet as we accelerate our ef...
    Magna wins new business for eDrive gearboxes with EV startups in China
    Canadian automotive components and systems supplier, Magna, has announced that it has won additional business to further support Chinese electric vehicle (EV) startups. Furthermore, according to a press release issued by Magna on 19 April, the company’s joint venture with Jiangling Motors Co., Ltd...
    LG Electronics-Magna JV close to signing deal with Apple to manufacture EVs
    LG Magna e-Powertrain, a joint venture (JV) between LG Electronics and Magna International is "very near" to signing contracts with Apple to build its early electric vehicle (EV) models, reports The Korea Times. According to the report, Apple plans to limit production volume, as it aims to evaluate ...
    Magna launches camera-based Driver Monitoring System to reduce distracted driving
    Magna developed a market-ready Driver Monitoring System (DMS), which combines its expertise in cameras and mirrors. It is integrated into an interior mirror and meets global regulations related to the detection of distracted driving. The system utilizes camera-based technology to monitor the driver...
    07-Apr-2021 News New Products
    Magna introduces eBeam technology for pickup truck electrification
    Canadian automotive components and systems manufacturer, Magna, has announced that it is expanding its powertrain electrification capabilities. According to a press release issued by Magna on 11 March, the company has launched its new eBeam technology, which is scalable and gives automakers the abil...
    12-Mar-2021 News New Products
    Magna debuts electrified chassis and connected PHEV powertrain systems
    As part of Magna’s roadmap to e-mobility, the company has introduced its new connected plug-in hybrid vehicle (PHEV) drivetrain and next-gen all-electric AWD solution. According to a press release issued by Magna on 4 March, the company debuted both these products in Sweden. The Magna Etelligen...
    05-Mar-2021 News New Products
    Magna develops new surround view cameras and ECUs for automotive applications
    Magna has unveiled new surround view cameras and electronic control units (ECUs) 3D surround-view systems in cars, the company said in a press release on 25 February. Magna’s next generation cameras and domain controllers will enable 3D surround view available to a wider customer base. “By pr...
    26-Feb-2021 News New Products
    Magna begins construction of new battery enclosure production plant in Michigan, US
    Canadian automotive components and systems supplier, Magna International, announced that it has broken ground on a new manufacturing facility in St. Clair, Michigan, US. According to a press release issued by Magna on 23 February, the company stated that this new facility will build complex battery ...
    24-Feb-2021 News Investments
    Magna, DuPont partner to develop lighter liftgate
    Canadian supplier Magna International and chemical giant DuPont have entered a partnership to develop lightweight liftgate, according to a report by Automotive News on 22 February. The two companies have developed a bond that provides rigidity and strength to the liftgate's joints. For this, DuPont'...
    23-Feb-2021 News New Products
    Magna’s FY 2020 sales declines 17.2% y/y to USD32.65 billion
    Canada-based automotive components and systems supplier, Magna International, has published its financial results for the 2020 fiscal year. According to a press release issued by Magna on 19 February, the company reported sales of USD32.65 billion during FY 2020, which represents a reduction of 17.2...
    Magna secures environmental approval for capacity expansion in Slovenia
    The Environment Agency of Slovenia has issued a preliminary environmental approval for Magna’s capacity expansion near Maribor, Slovenia, according to a press release on the official website of InvestSlovenia on 5 February. According to the Environment Agency, Magna's application will now be re...
    09-Feb-2021 News Investments
    Magna expands collaboration with Fisker to jointly develop ADAS
    Magna is collaborating with Fisker to develop an advanced driver assistance system (ADAS), the company said in a press release on 4 January. The two companies will jointly develop industry-unique ADAS features and a suite of software packages, powered by a scalable controller architecture. The ADAS ...
    05-Jan-2021 News New Products
    Swamy Kotagiri takes over as new CEO of Magna
    Magna has announced that Swamy Kotagiri has taken over as new CEO of the company, effective 1 January 2021, according to a company press release on 4 January. He succeeded Don Walker, who retired at the end of 2020. Kotagiri has been working with Magna for more than two decades now and has served...
    Magna, LG enter JV agreement to expand in powertrain electrification market
    Canadian automotive components and systems supplier, Magna, has entered into a joint venture with South Korean electronics firm, LG, to expand their presence in the automotive powertrain electrification market. According to a press release issued jointly by Magna and LG on 22 December, the comp...
    Fisker, Magna sign definitive platform-sharing and manufacturing agreement
    Fisker and Magna signed the definitive platform-sharing agreement and initial manufacturing agreement two months after entering into the original framework agreements. According to a press release issued by Fisker Inc. on 17 December, the company stated that these agreements finalize key aspect...
    22-Dec-2020 News New Products
    Magna to supply advanced front camera systems featuring Mobileye EyeQ technology to European automaker
    Magna has won contract to supply its Gen5 ‘one-box’ front-facing camera system, featuring Mobileye’s EyeQ system-on-chip (SOC) image processing technology, to a Europe-based automaker, the Canada-based automotive supplier said in a press release on 24 November. Magna’s new 120°, 8-MP c...
    25-Nov-2020 News New Products
    Fisker, Magna complete key milestone for Ocean electric SUV production
    Electric vehicle (EV) maker Fisker Inc. and Magna have completed the Preliminary Product Specification (PPS) gateway for Fisker Ocean, the automaker announced in a press release on 16 November. This engineering and purchasing milestone confirms preliminary specifications and targeted performance on ...
    Magna Q3 sales declines 2% y/y to USD9.1 billion
    Magna has reported 2% year-over-year (y/y) decline in sales to USD9.1 billion in the third quarter ended 30 September 2020, the company said in a press release on 6 November. Despite lower sales, the Canadian supplier recorded income from operations before income taxes of USD436 million against a lo...
    Magna to launch CLEARVIEW camera monitoring system in 2022
    Magna will commercially launch CLEARVIEW camera monitoring system for global automaker in 2022, the company said in a press release on 27 October. The new mirror leverages Magna’s expertise in mirrors, cameras, electronics, and software. “The CLEARVIEW system combines Magna’s leading...
    28-Oct-2020 News New Products
    Magna appoints Swamy Kotagiri as CEO
    Canadian supplier Magna has appointed Seetarama (Swamy) Kotagiri as its new CEO, according to a company press release on 20 October. The appointment is effective 1 January 2021. He will succeed Don Walker, who served as CEO between 1994 and 2001, and since 2005, will retire at the end of 2020. Si...
    Magna enters platform-sharing agreement with Fisker; to manufacture Ocean EV
    Canadian automotive components and systems manufacturer, Magna International, has announced that it has signed agreements with Fisker Inc. that provide the framework for a platform sharing and manufacturing cooperation for the Fisker Ocean SUV. According to a press release issued by Magna on 15 O...
    Magna unveils next-generation EZ Entry seat
    Magna International has unveiled its fully automated, next-generation EZ Entry seat, according to a report by Automotive News Europe on 2 October. The seat will be available to automakers in fully automated, partially automated or manual options. The new seat with improved craftsmanship offers enhan...
    05-Oct-2020 News New Products
    European Commission fines Brose and Kiekert USD21.1 million in cartel settlement
    The European Commission has fined Brose and Kiekert a total of EUR18 million (USD21.1 million) for taking part in two cartels concerning supplies of closure systems for cars in the European Economic Area (EEA), the Commission announced in a press release on 29 September. Magna was not fined as ...
    ACQUISITION: Magna to acquire majority ownership of Chinese seat supplier Honglizhixin
    Magna has signed an agreement to acquire majority ownership of Honglizhixin, a major seat supplier to Chinese automakers, the Canadian automotive parts supplier announced in a press release on 3 September 2020. At the same time, Magna will acquire a majority stake in its existing seating joint ventu...
    INVESTMENT: Magna to establish powertrain systems metal-forming plant in Slovakia
    Canadian automotive components and systems supplier, Magna, has announced a new investment for expanding its powertrain solutions business in Slovakia. According to a press release issued by Magna on 24 August, the company has stated that it will be setting up a new facility at Kechnec, Slovakia. ...
    25-Aug-2020 News Investments
    Magna’s Q2 2020 sales fall 57.6% y/y to USD4.2 billion
    Canada-based automotive components manufacturer Magna has reported a 57.6% year on year (y/y) in sales to USD4.2 billion for the second quarter ended 30 June 2020, according to a company press release on 7 August. Loss from operations before income taxes amounted to USD789 million compared with inco...
    Magna to expand seat manufacturing facility in Michigan, US
    Canadian automotive components and systems supplier, Magna International Inc., has announced that it will be investing CAD47 million (approximately USD35 million) in Michigan, US. According to a press release issued by the Michigan Economic Development Corporation on 23 June, Magna has been awarded ...
    24-Jun-2020 News Investments
    COVID-19 pandemic: Magna resumes production at Mexican plants
    Canada-based Magna International has resumed operations at all of its plants in Mexico, according to a report by CE Noticias Financieras on 13 June. "All of our plants in Mexico have received government approval to restart production and substantially all are operational," the report said citing a c...
    15-Jun-2020 News COVID-19
    Magna starts production at new seating plant in Serbia
    Magna has started production at its new seat cover manufacturing plant in Aleksinac, southeast Serbia, according to Development Agency of Serbia (RAS). The Canadian supplier has completed the first phase of construction at the brownfield facility, which already has 100 employees. Magna plans to a...
    08-Jun-2020 News Investments
    Magna's first-quarter 2020 sales down 18% y/y to USD8.66 billion
    Canada-based automotive components manufacturer Magna has announced its financial results for the first quarter of this year. In a press release issued by Magna on 7 May, the company stated that it registered sales of USD8.66 billion, which implies an 18% decline from the USD10.59 billion ...
    Magna wins 2020 PACE award for lightweight liftgate reinforcement
    In a press release dated 28 April, Magna announced that it has won the 2020 Automotive News PACE award for its composite space frame liftgate reinforcement solution. The liftgate reinforcement solution was first equipped in Toyota Supra. “Innovative lightweight solutions, such as this composite sp...
    COVID-19 pandemic: Magna plans to resume production in North America on 4 May
    Canadian automotive mobility technology company, Magna International, has announced its plans to return to normal manufacturing schedules from 4 May onward in North America, according to a report filed by news agency Reuters on 15 April. The company’s production activates in North America are...
    16-Apr-2020 News COVID-19
    COVID-19 pandemic: Magna suspends operations at Slovenian paint shop
    Magna International has suspended operations at its Slovenian paint factory. The Slovenian paint factory will remain closed for two weeks due to the coronavirus disease 2019 (COVID-19) pandemic, according to a report by SeeNews on 1 April. The company had earlier planned to restart production in the...
    02-Apr-2020 News COVID-19
    COVID-19 pandemic: Magna, Linamar, Martinrea join forces to build ventilators in Canada
    Canadian auto parts suppliers Magna, Linamar, and Martinrea, alongside the Automotive Parts Manufacturers Association (APMA) and the province of Ontario have joined forces to build ventilators to treat the coronavirus disease 2019 (COVID-19) pandemic in Canada, according to a press release on 27 Mar...
    30-Mar-2020 News COVID-19
    COVID-19 pandemic: Magna withdraws outlook for FY 2020, provides update on plant operation
    Canadian automotive technology firm Magna has announced that it has withdrawn its outlook for the fiscal year 2020 in light of the uncertainties posed by the widespread coronavirus disease 2019 (COVID-19) pandemic. According to a press release issued by Magna dated 26 March, the company stated th...
    27-Mar-2020 News COVID-19
    Magna showcases all-electric e4 technology demonstrator car
    Magna has showcased its all-electric e4 technology demonstrator car during the company’s winter test-driving activities in northern Sweden, the company announced in a press release on 26 February. Based on Jaguar I-Pace, the technology demonstrator car showcases Magna’s eDrive systems in a pure ...
    27-Feb-2020 News New Products
    Magna FY2019 sales down 3.4% y/y to USD39.43 billion
    Canada-based automotive technology firm Magna has released its financial results for the fiscal year of 2019. In a press release dated 21 February, the company reported sales of USD39.43 billion for the fiscal year of 2019, which was a drop of 3.4% year over year. The company registered sales of USD...
    Magna expects continued growth in sales, improvement in EBIT margin over next three years
    Magna has released its financial outlook for 2020 and 2022, expecting continued growth in sales and improvement in EBIT margin, the company said in a press release on 16 January. For 2022, Magna forecasts sales in the range of USD40.5 billion to USD43.5 billion and EBIT margin in the range of 7.6% t...
    Ineos Automotive partners with Magna for series production of Grenadier 4x4
    British auto manufacturer Ineos Automotive has announced an extension of its partnership with Canadian manufacturing firm, Magna. In a press release issued on 17 December, Ineos iterated that Magna Steyr will be responsible for the series production phase of its 4x4 utility vehicle named the Grenadi...
    20-Dec-2019 News New Products
    Magna supplies dual-clutch 8-speed transmission to Ferrari SF90 Stradale
    Magna, in cooperation with the Italian sports car maker Ferrari, has developed an all-new dual-clutch 8-speed transmission (DCT) for the Ferrari SF90 Stradale, according to a company press release on 11 December. The company is supplying its innovative, next-generation DCT that provides improved tor...
    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...
    14-Dec-2018 News New Products
    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...
    12-Oct-2018 News Investments
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