36 Articles
Magna finalizes Getrag deal

Magna International's purchase of transmission maker Getrag is finally through regulatory approval and officially complete.

Magna International agrees to buy transmission maker Getrag

Automotive component supplier Magna International has signed an agreement to take over the Getrag Group, one of the biggest transmission manufacturers, by the end of the year, in a deal worth nearly $2 billion.

Explosion at Magna plant injures workers

An explosion at a Magna International divisional plant in Newmarket, ON, a manufacturing facility for Dortec Industries, occurred on Wednesday afternoon. Some nine people were injured in the accident and five or six (reports vary) were sent to the hospital. Magna has reported that all workers have since been released from the hospital.

Report: GM resumes production after Magna fire, Mazda and Ford still slow?

General Motors halted production at six of its plants last week after a fire at Magna International interrupted the companies' supply of interior parts. The conflagration also halted production at the AutoAlliance International Ford-Mazda joint-venture plant in Flat Rock, Michigan, and Automotive News says that Aaron Richardson

Report: China's BAIC gunning to buy Pininfarina

BAIC C71EV – Click above for high-res image gallery

Report: GS Yuasa, Mitsubishi, Magna to build li-ion battery production facility in Europe

GS Yuasa, the lithium-ion battery maker that recently dissolved its joint venture (JV) with Sanyo, is now eying the possibility of setting up shop with the assistance of Mitsubishi Corp. and Magna International Inc. The Nikkei reports that GS Yuasa will hold a majority stake in a new joint venture that's aimed at boosting lithium-ion battery production in Europe. Magna will reporte

Magna E-Car Systems opens hybrid and EV development center in Auburn Hills, MI

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 door

Magna International invests $400-600 million in battery production

Ford Focus Electric battery packs – Click above for high-res image gallery

Detroit 2010: Magna International launches E-Car Systems

Magna International, the giant international parts supplier, will use this year's EcoXperience ride & drive track at the Detroit Auto Show as a backdrop to launch their new global unit, E-Car Systems. As one might deduce from its name, this new unit

Porsche cancels Boxster/Cayman production contract, Magna wants cash

2009 Porsche Boxster S - Click above for high res image gallery

Porsche to pull Boxster production from Magna over Opel stake?

2009 Porsche Boxster S – Click above for high-res image gallery

BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank

Finally, after what seems like an eternity of protracted negotiations, bickering and stalling tactics, General Motors has agreed to sell a majority stake in its European operations to Magna International and its Russian financial partner Sberbank. Under the terms of the deal, 55% of Opel and Vauxhall will be owned by Magna/Sberbank; The General will hold on to a 35% stake and employees of the two companies will hold the final 10 percent.

Opel fate still up in the air as Russian involvement reportedly complicates Magna offer

Over on General Motors' Europe "Driving Conversations" blog, VP John Smith has posted an update on the company's negotiations to sell a majority stake in Opel and Vauxhall. Although no final decision has been made yet, it's looking increasingly likely that the previous tentative agreement with Magna International may be usurped by a bid from RHJ International. This, despite the fact that the German government has been favoring the Magna bid because of the suppliers commitment to preserving jobs

German economics minister reportedly says no to Opel buy-back option for GM

One of the many clauses that General Motors is reportedly trying negotiate into any deal involving majority control of Opel is the option to eventually buy back the stake it is selling.

Magna wants to build electric vehicles in Canada within 3 years

Magna Steyr Mila EV - Click image for high-res gallery

Hybrid Volvo buses and trucks to use Magna Steyr batteries, A123 cells

It looks like Ford won't be the only company getting lithium ion battery packs from Magna International. The Magna Steyr division of the supplier announced last week that it will begin production of packs at its plant in Graz, Austria next month. The packs will be supplied to Volvo for use in its buses, heavy duty trucks and garbage trucks equipped with hybrid powertrains. Volvo uses a parallel hybrid system for its vehicles.

Opel stake could give Russian automaker an injection of "know-how"

If you tried telling us even as recently as a year ago that General Motors would be forced to sell its European assets and that a partnership between a Canadian parts supplier and a Russian bank would step up to take the stake, we'd have probably raised a few eyebrows. But such is the state of the General and the industry at large, with Magna and Sberbank looking poised to take a big chunk of Opel of GM's hands. The question everyone is asking, however, is what the Russian state bank wants with

Electrification of vehicles will be key to Magna's future

Click the Focus EV "mule" for a high res gallery

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