Recent Stories
MagnaSign.jpg
Magna expects lower 2020 sales, ends Lyft partnership

Magna said the stronger U.S. dollar, the sale of its fluid pressure and controls business and lower expected light vehicle production in Europe will impact revenue this year.
Magna_MIrror.jpg
Magna sees a future in video rearview mirrors

The supplier is developing new camera technology but it’s expensive, the images are not as clear as with glass and governments are not yet on board.
Volvo's Polestar brand picks Montreal for first North American store

Polestar's new store in Montreal is set to open in 2020 in a province that saw its EV sales increase 93 percent in the second quarter.
FCA extends 3rd shift at Canada plant until end of year

FCA in March said it would end the third shift at the Windsor plant on Sept. 30 amid sluggish North American sales for the Chrysler Pacifica and Dodge Grand Caravan minivans it builds. The automaker has now extended the shift's life two times since that announcement.
Magna Steyr opens new paint shop in Slovenia

Magna Steyr has opened a new paint plant in Slovenia to complement its contract vehicle production at a plant in Graz, Austria, which builds cars for Mercedes, BMW, Toyota and Jaguar.
Magna opens Czech plant to serve BMW in Europe
Magna has opened a new seating factory in the Czech Republic that will employ 300 people and supply BMW in Europe.
Magna opens Czech seating factory to serve BMW
Magna has opened a seating factory in the Czech Republic that will employ 300 people and supply BMW in Europe.
Jaguar production helps Magna to record Q1 net income
Magna International posted record net income of $660 million in the first quarter of 2018, up 14 percent from a year ago.
Magna wins lidar contract with BMW
Magna and its partner, Innoviz Technologies, will supply BMW with solid-state lidar for the automaker's upcoming autonomous vehicle platforms.
Magna opens composites center of excellence in Germany
Magna's new composite center in Germany will primarily focus on developing lightweight components, such as vehicle subframes, door panels and hoods.
Magna realigns business into four primary segments
Magna will realign its divisions and create four global, product segments. It plans to report quarterly sales and earnings for each unit beginning in 2018.The changes will provide investors with increased transparency and allow for easier comparisons with the peers, the supplier said.
Porsche France boss to head Canada ops
Marc Ouayoun will become CEO of Porsche Cars Canada, moving from his current role heading the automaker's French unit.
Magna Q3 earnings flat on challenges at former Getrag European plants
Magna said third-quarter profits were flat despite rising revenue as the company was hampered by challenges at two newly acquired European plants.
Magna to produce electric-drive powertrain with China's Huayu Automotive
Magna and Huayu, a subsidiary of SAIC, plan to produce an electric-drive powertrain system for an unidentified German automaker.
BMW's self-driving tech collaboration adds Magna
Magna has struck a deal with BMW, Intel and Mobileye to bring a new self-driving platform to the automotive market by 2021.