Canadian auto supplier Magna International Inc. plans to invest up to $70.1 million over the next five years to build an EV battery component plant in Michigan. The 345,000-square-foot plant in St. Clair, Mich., is expected to Read Full
Category: Magna
Magna breaks ground for Hummer parts plant
Magna’s new factory will produce battery enclosures for the revived Hummer truck, now to be sold under the GMC commercial vehicle brand as a pure EV Magna announced it had broken ground on a new manufacturing facility Read Full
Magna Q4 sales up 12% to US$10.6bn
Magna has recorded fourth-quarter sales up 12% to US$10.6bn. Full-year 2020 sales fell 17% to US$32.6bn, compared to vehicle production declines of 20% and 23% in Magna’s most significant production markets of North America and Europe. “Magna navigated a challenging year Read Full
Magna net income surges 68% in Q4 on better-than-expected vehicle production
Fourth-quarter net income at Canadian supplier Magna International Inc. surged 68 percent from a year earlier due in part to better-than-anticipated vehicle production. The company reported net income of $738 million for the quarter ended Dec. 31, Read Full