Magna International is bullish that the industry’s sweeping shift to electrified vehicles will be beneficial to its bottom line. Whether it be all-wheel-drive systems or its fast-expanding battery enclosures business, CEO Swamy Kotagiri says the world’s fourth-largest supplier is poised to succeed. That is why the company recently upgraded its outlook for electrification-based sales by $500 million. Kotagiri outlined Magna’s plans and how the company is offsetting supply chain woes and the chip crunch in an interview with Automotive News Europe Managing Editor Douglas A. Bolduc and News Editor Peter Sigal.
How will Magna capitalize on the transition to electric cars? Will it gain share or lose some share?
With the trend toward increased electrification in cars and the arrivals of new entrants, Magna is not only increasing its content per vehicle, but it also has a larger addressable market.