Magna International, the world's third-largest automotive parts producer, announced its intentions to establish a new global unit, E-Car Systems, at this year's EcoXperience ride & drive track at the Detroit Auto Show. Now, Magna has opened the doors of its new hybrid and electric vehicle (EV) system development center and battery testing facility in Auburn Hills, Michigan.
Those who follow the automotive industry closely are surely familiar with Magna International, one of the largest auto parts suppliers in the world -- so large, in fact, that the company was actually in on the bidding to purchase Chrysler from Daimler last year. Now it seems that the global company is throwing its hat into the plug-in hybrid ring. Magna founder Frank Stronach says, "You don't have to be a great scientist to know that we're going to be out of oil sooner or later." The company is