PLANT

News Automotive Electronics Business Operations Production Technology
January 4, 2021  

Magna to collaborate with Fisker

Complements EV platform sharing, vehicle engineering and manufacturing cooperation

News Automotive Manufacturing General
October 20, 2020  

Magna CEO Walker to retire at end of 2020, Seetarama Kotagiri up next

Kotagiri, currently Magna’s president, has more than 25 years of automotive industry experience, 21 years with the company.

News Automotive General
March 31, 2020  

Magna withdraws guidance due to business uncertainty of COVID-19 outbreak

The auto parts company said many of its plants have reduced or suspended operations because of the outbreak

News Automotive Manufacturing General
January 16, 2020  

Magna International expects 2020 sales to be down from 2019

Auto parts company also says it has decided to conclude its self-driving technology partnership with Lyft.

News Automotive Manufacturing General
November 11, 2019  

Magna cuts 2019 outlook after GM strike in US cuts volume

Expects total sales this year of between $38.7 billion and $39.8 billion.

News Automotive Manufacturing General
October 30, 2019  

BMW awards Magna its largest ever transmissions order

Multi-year deal covers all front-wheel drive, dual-clutch, hybrid variants.

News Manufacturing General
August 8, 2019  

Magna’s Q2 profit falls 28% as sales revenue and volumes decline

Auto parts maker cites lower operating margins and higher expense items.

News Automotive Manufacturing General
May 9, 2019  

Auto parts maker Magna reduces profit guidance for 2019

Expects light vehicle production in North America and Europe to fall shot of an earlier forecast.

News Automotive Manufacturing General
February 25, 2019  

Tariffs a problem, but USMCA could give Magna a leg up: Walker

Agreement encourages auto companies to invest or expand in the US and Canada.

News Automotive Manufacturing General
February 22, 2019  

Auto parts maker Magna reports $456M Q4 profit, ups dividend

Will now pay quarterly 36.5 cents per share, up from 33 cents per share.

News Automotive Manufacturing General
January 15, 2019  

GM reaffirms Oshawa closure after meetings with Ontario and federal officials

About 2,600 unionized workers and 340 other staff to lose jobs.

News Automotive Manufacturing General
September 20, 2018  

Magna sells FP&C business to South Korea’s Hanon Systems for $1.23B

Powertrain unit will focus on transmission and other driveline-related systems.

News Automotive Manufacturing General
August 9, 2018  

Magna stock plunges after cautious outlook amid tariff uncertainty

Edging down estimates for sales, margins and other key metrics for 2018, even though Q2 results were strong.

News Automotive Manufacturing General
June 28, 2018  

Magna buys Italian automotive light maker OLSA for $354M

Deal expands its capability to design, engineer and manufacture headlamps.

News Automotive Manufacturing General
May 10, 2018  

Magna beats Q1 profit expectations, raises guidance for the year

Revenue of $10.8 billion is up from $8.9 billion in the same quarter last year.

News Automotive Manufacturing General
May 2, 2018  

Magna invests $125,000 for Skills Ontario initiatives

Auto parts maker will also offer jobs to medalists in the industrial contests.

News Automotive Manufacturing General
March 19, 2018  

Uber suspends self-driving car tests in Toronto and elsewhere after pedestrian death

Woman walking outside a crosswalk in Phoenix suburb hit by vehicle in autonomous mode.

News Automotive Manufacturing General
March 14, 2018  

Magna partnering with Lyft on self driving vehicle systems

Will lead manufacturing and contribute knowledge in vehicle systems, safety and other areas.

Feature Automotive Manufacturing General Technology
February 21, 2018  

Magna takes a load off: Joint R&D with Ford creates lighter carbon

A collaborative lightweighting project yields 34% mass reduction and 87% fewer parts.

News Automotive Manufacturing General
January 17, 2018  

Magna to increase investments in electrification and vehicle autonomy

Says electric vehicles will only account for 6% of the global market in 2025 and 13% in 2030.

News Automotive Manufacturing General Technology
January 16, 2018  

Magna unveils high-definition Icon Radar at NAIAS

Military inspired tech scans environment in four dimensions.

News Automotive Manufacturing General Technology
October 18, 2017  

Magna deal with Huaya Automotive powers NEVs in China

Joint venture to produce electric-drive powertrain for a German automaker.

News Automotive Manufacturing General
October 10, 2017  

Magna joins BMW, Intel to develop autonomous vehicle tech by 2021

Technology to be flexible, adoptable for integration by multiple automakers.

News Automotive Manufacturing General Technology
September 1, 2017  

Magna unveils latest autonomous driving platform

MAX4 system allows up to Level 4 autonomous driving capabilities in urban and highway settings.

News Automotive Manufacturing General Operations Production Technology
August 30, 2017  

Magna invests in solid-state LiDAR developer Innoviz

Expands existing collaboration with solid-state LiDAR technology innovator to advance autonomous vehicle technologies.

News Automotive Manufacturing Business Operations General Operations Production
July 17, 2017  

Magna adds Jaguar SUV to contract manufacturing line-up

E-PACE production is expected to begin in Q4.

News Automotive Manufacturing Business Operations General Operations Production
June 20, 2017  

Magna to produce BMW 5-series plug-in hybrid

Manufacturing will be based out of the auto parts giant’s Austrian plant, which has been producing BMW vehicles for 15 years.

News Automotive Manufacturing General Technology
June 8, 2017  

Magna and RocketSpace partner to accelerate automotive innovation

Will focus on electric vehicle and automated driver systems, secure connectivity.

News Automotive Manufacturing General
March 14, 2017  

Magna dramatically lowers subframe weight with carbon fibre composites

Collaborative R&D project with Ford yields 34% mass reduction; 87% reduction in number of parts.

News Automotive Government Manufacturing Business Operations Economy General
February 27, 2017  

Magna raises concerns about protectionist trade measures

CEO Don Walker says any border adjustment tax would be negative for the industry.

News Automotive Manufacturing General
September 15, 2016  

Magna to build new BMW 5 series at Graz, Austria plant

Production to be split with BMW Group’s plant in Dingolfing, Germany.

News Automotive Manufacturing General
March 10, 2016  

Magna to supply EYERIS vision system for Grand Cherokees, Pacificas

Aurora automotive systems supplier also opening another seating plant in China.