Magna to collaborate with Fisker
Complements EV platform sharing, vehicle engineering and manufacturing cooperation
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.
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
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.
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.
BMW awards Magna its largest ever transmissions order
Multi-year deal covers all front-wheel drive, dual-clutch, hybrid variants.
Magna’s Q2 profit falls 28% as sales revenue and volumes decline
Auto parts maker cites lower operating margins and higher expense items.
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.
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.
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.
GM reaffirms Oshawa closure after meetings with Ontario and federal officials
About 2,600 unionized workers and 340 other staff to lose jobs.
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.
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.
Magna buys Italian automotive light maker OLSA for $354M
Deal expands its capability to design, engineer and manufacture headlamps.
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.
Magna invests $125,000 for Skills Ontario initiatives
Auto parts maker will also offer jobs to medalists in the industrial contests.
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.
Magna partnering with Lyft on self driving vehicle systems
Will lead manufacturing and contribute knowledge in vehicle systems, safety and other areas.
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.
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.
Magna unveils high-definition Icon Radar at NAIAS
Military inspired tech scans environment in four dimensions.
Magna deal with Huaya Automotive powers NEVs in China
Joint venture to produce electric-drive powertrain for a German automaker.
Magna joins BMW, Intel to develop autonomous vehicle tech by 2021
Technology to be flexible, adoptable for integration by multiple automakers.
Magna unveils latest autonomous driving platform
MAX4 system allows up to Level 4 autonomous driving capabilities in urban and highway settings.
Magna invests in solid-state LiDAR developer Innoviz
Expands existing collaboration with solid-state LiDAR technology innovator to advance autonomous vehicle technologies.
Magna adds Jaguar SUV to contract manufacturing line-up
E-PACE production is expected to begin in Q4.
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.
Magna and RocketSpace partner to accelerate automotive innovation
Will focus on electric vehicle and automated driver systems, secure connectivity.
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.
Magna raises concerns about protectionist trade measures
CEO Don Walker says any border adjustment tax would be negative for the industry.
Magna to build new BMW 5 series at Graz, Austria plant
Production to be split with BMW Group’s plant in Dingolfing, Germany.
Magna to supply EYERIS vision system for Grand Cherokees, Pacificas
Aurora automotive systems supplier also opening another seating plant in China.