Magna International Inc. took the unusual step of lowering its outlook for its 2026 financial performance as North America's largest supplier grapples with automakers reducing, postponing or canceling electric vehicle targets amid soft sales growth.
Magna International Inc. took the unusual step of lowering its outlook for its 2026 financial performance as North America's largest supplier grapples with automakers reducing, postponing or canceling electric vehicle targets amid soft sales growth.
The cuts amount to roughly 5% of the automaker’s connected-vehicle software team, which is under the purview of Doug Field, Ford’s chief EV, digital and design officer.