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 [...]
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. [...]
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 [...]
Magna Steyr, an automobile manufacturer based in Oberwaltersdorf, Austria, will be rolling into the 2009 Geneva Motor Show with a new electric-car concept that it says is built on a “flexible platform.” Known as the Mila EV, the concept is not intended for production, but Magna is hoping to attract customers that may be interested [...]
