The Latest Breaking News from Magna

Electric vehicle company Fisker Inc (NYSE: FSR) could be in the spotlight for investors with strong reservation numbers and late 2022 production. A recent interview from CEO Henrik Fisker shared an update on the company and what’s ahead.

Magna International Inc (NYSE:MGA) has started the production of its mild hybrid transmission for Bayerische Motoren Werke AG (OTC:BMWYY). Magna's new 7-speed, mild hybrid dual-clutch transmission is the latest to be featured exclusively on BMW Group's compact class, accelerating its electric mobility transformation. The contract will also include the production of mild hybrid transmissions for…

Magna International Inc (NYSE:MGA) (TSX:MG) reported a first-quarter FY22 sales decline of 5.3%, to $9.64 billion, beating the consensus of $9.31 billion. Global light vehicle production growth was down 7%, primarily driven by a 16% decrease in Europe. Body Exteriors & Structures segment sales grew 1.3% Y/Y, Power & Vision fell 3.5%,…

An estimated 400 new jobs will be created at the 260,000 square foot factory, which is LG Magna e-Powertrain's first production base in North America.