Tag Archives: Magna International

Magna International acquires transmission manufacturer, Getrag

You may have heard of Magna International and Getrag, if you’re a fan of German automobiles. Magna International is a Canadian-based global automotive supplier based in Ontario and one of its more known operations includes Magna Steyr, the manufacturer of some famous automobiles such as the Mercedes-Benz Gelandewagen and Unimog trucks as well as playing […]

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Parts supplier Magna International Inc. invests $400 million in electric vehicle R&D

Ontario-based Magna International Inc., who is a major parts supplier for companies like GM, Ford and Chrysler, is said to have invested $400 million in electric vehicle research and development, said the province’s government. Magna and Ontario’s Economic Development Minister Sandra Pupatello are expected to announce this new investment sometime this afternoon. The new investment […]

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Report: Magna looking to acquire Pininfarina

Pininfarina, the Italian design house responsible for numerous Ferraris, Alfa Romeos, Maseratis, Lancias, isn’t doing so well. Earlier this month, Pininfarina’s quarterly earnings report said that the company could be sold as early as Dec. 31. Sources now tell Automotive News Europe that Canadian-Australian parts supplier Magna International Inc. is weighing options to by the […]

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Report: Magna planning EV battery plant for BMW, Ford, PSA

Battery manufacturer Magna is talking with Japan”s GS Yuasa Corp. about producing lithium ion batteries to supply PSA/Peugeot-Citroen SA, and possibly BMW and Ford. The two companies are considering a $466 million factory in Spain or Austria, likely to start producing batteries in 2012, at a high enough capacity to power 50,000 cars per year. […]

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Magna planning battery factory for EVs in U.S., Europe

Battery manufacturers are all scurrying to secure for themselves, a relevant role in the impending boom in electric vehicles. Magna International Inc., is one such company; the Canadian company is actively seeking locations to produce batteries for electric vehicles. CEO Siegfried Wolf has said that $200-$300 million has been earmarked for each of two factories- […]

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Magna International requests damages from Porsche AG

Canadian company Magna International is requesting at least 400 million euros in compensation from Porsche AG for their cancellation of a contract in which the former would produce the latter’s Cayman and Boxster model sports cars in its Austrian factory. Porsche, which is currently in the process of merging with Volkswagen Group AG, seeks to […]

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BREAKING: GM board of directors decide to keep Opel

General Motors’ board of directors said today that it will keep Opel and restructure it, putting an end to plans to sell the brand to Magna International. GM said that it expects the restructuring of Opel to cost 3 billion euros ($4.42 billion USD), which it says lowers the costs associated with outside bids for […]

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Report: Germany to reconsider Opel sale, may let it stay with GM

According to a report by Frankfurter Allgemeine Zeitung, Germany’s new government will take a new look at the sale of General Motors’ Opel unit to Magna International and may consider an arrangement where the brand remains with GM. “The new government will take another look at decisions made up to now on Opel and imminent […]

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GM to sign off on Opel sale on Thursday

According to sources close to the negotiations, General Motors Company will sign a deal on Thursday to sell a majority stake in Opel to Magna International. It was confirmed about a month ago that under a new deal, Magna and Sberbank will own a 55 percent stake in Opel, while GM will hold a 35 […]

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Mercedes sticks to Magna, gives supplier SLS AMG body order

Magna International has received an exclusive order from Daimler AG to build the new Mercedes-Benz SLS AMG, a sign of faith that the Canadian company’s fifth-largest customer will not pull business from it as it plans to take over Opel. Magna said that its Magna Steyr unit based in Austria’s Graz, where the Mercedes-Benz G-Class […]

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