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The Latest Breaking News from Magna

Fisker May Accelerate US Factory Search Due To New EV Tax Credit

Fisker is among a number of automakers hoping to manufacture EVs on our shores to ensure that their customers can take advantage of the new US EV tax credit.

Volkswagen Said To Turn To Magna For Help Developing Scout Project

Volkswagen Said To Turn To Magna For Help Developing Scout Project

Citing unnamed company sources, Automobilwoche reports that VW may turn to Magna to develop the electric pickup planned for 2026 as the first Scout vehicle.

$101m global rear-view mirror deal for Canberra-developed safety tech

$101m global rear-view mirror deal for Canberra-developed safety tech

Seeing Machines links up with Magna International on a rear-view mirror tech deal.

The Canberra Times

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Auto supplier Magna bringing electric delivery robots to Metro Detroit

DETROIT — Canadian auto supplier Magna International Inc. is building an autonomous, electric delivery vehicle, it said Wednesday at the North American International Auto Show.

Tribune News Service

What's Going On With Fisker? CEO Shares Updates On EV Reservations, Production, International Expansion, US Tax Cuts

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 Commences Production Of Mild Hybrid Transmission For BMW Group

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 Clocks 5% Sales Decline In Q1; Cuts FY22 Outlook

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%,…

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LG-Magna JV Breaks Ground On Plant That Will Supply EV Parts To GM

LG-Magna JV Breaks Ground On Plant That Will Supply EV Parts To GM

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.

Magna Will Produce Ford F-150 Lightning's Battery Enclosures In Ontario

Magna Will Produce Ford F-150 Lightning's Battery Enclosures In Ontario

Magna announced a new EV investment in Ontario, Canada, where the company will produce lightweight aluminum battery enclosures for the Ford F-150 Lightning.

We Drive An Electric GMC Sierra And An Old Tri-Motor Tesla

We Drive An Electric GMC Sierra And An Old Tri-Motor Tesla

This Magna EtelligentForce-powered prototype is our first contact with a proper heavy duty EV designed for hard work and towing and it was quite impressive.

Magna Gold says three employees died at San Francisco Mine

Canada's Magna Gold Corp said three of its employees died at the company's San Francisco Mine on Tuesday.

Magna Clocks 14% Sales Decline In Q4 On Chip Shortages, Lags Consensus

Magna Clocks 14% Sales Decline In Q4 On Chip Shortages, Lags Consensus

Magna International Inc (NYSE:MGA) reported a fourth-quarter FY21 sales decline of 14% year-on-year, to $9.11 billion, missing the analyst consensus of $9.31 billion. Global light vehicle production declined 17%, primarily driven by the semiconductor chip shortages the industry has faced throughout 2021. Body Exteriors & Structures segment sales decreased 18% Y/Y, Power &…

China: Magna's JV Starts Production Of eDrives For Volkswagen's MEB

China: Magna's JV Starts Production Of eDrives For Volkswagen's MEB

Magna announced that its HASCO Magna Electric Drive Systems Co.team in China has started high-volume serial production of eDrive systems for the VW ID.4.

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