Contract Manufacturer – Page 203 – I wish I had more to offer

UPDATE 3-Canada’s Magna raises profit forecast as global auto production improves

(Recasts paragraph 1; adds CEO comment in paragraph 3 and analyst comment in paragraph 10) By Raechel Thankam Job May 5 (Reuters) – Canadian auto parts maker Magna International Inc raised its full-year earnings forecast on Friday, betting on increased production of cars and other light vehicles in North America and Europe as supply-chain constraints… Continue reading UPDATE 3-Canada’s Magna raises profit forecast as global auto production improves

Canada’s Magna raises profit forecast as global auto production improves

By Raechel Thankam Job (Reuters) -Canadian auto parts maker Magna International Inc raised its full-year earnings forecast on Friday, betting on increased production of cars and other light vehicles in North America and Europe as supply-chain constraints ease. Magna also joined peer Aptiv PLC in issuing positive commentary on the supply chain as the auto… Continue reading Canada’s Magna raises profit forecast as global auto production improves

REFILE-Auto parts maker Magna International raises annual forecast

(Corrects date to May 5, from May 3) May 5 (Reuters) – Canadian auto parts maker Magna International Inc, on Friday, raised its full-year sales forecast as easing supply chain constraints improve prospects for ramping up production. Magna’s revenue for the year is now expected to be between $40.2 billion and $41.8 billion, up from… Continue reading REFILE-Auto parts maker Magna International raises annual forecast

Magna Announces First Quarter 2023 Results

Sales increased 11% to $10.7 billion, compared to a global light vehicle production that rose 3% Diluted earnings per share and Adjusted diluted earnings per share were $0.73 and $1.11, respectively Paid dividends of $132 million Raised Adjusted EBIT Margin Outlook range to 4.7%-5.1% from 4.1%-5.1% AURORA, Ontario, May 05, 2023 (GLOBE NEWSWIRE) — Magna… Continue reading Magna Announces First Quarter 2023 Results

Europa Wire: AFRY to improve production line at Valmet Automotive car plant in Finland 000611

AFRY to improve production line at Valmet Automotive’s car plant in Finland (IN BRIEF) AFRY, a Swedish engineering and consulting company, has signed a contract with Valmet Automotive, a car manufacturer, to improve and develop the manufacturing process and production line at its car plant in Finland. The project includes modifying part of Valmet Automotive’s… Continue reading Europa Wire: AFRY to improve production line at Valmet Automotive car plant in Finland 000611

Yuma Energy appoints Deepak Nanwani as the Head of Revenue and Operations

Yuma Energy, a joint venture between automotive supplier Magna, and Yulu, India’s largest shared electric micro-mobility player, announced the appointment of Deepak Nanwani as the Head of Revenue and Operations. Deepak will work towards strengthening the Yuma network to foster anxiety-free e-mobility for the masses and build partnerships with original equipment manufacturers to onboard them… Continue reading Yuma Energy appoints Deepak Nanwani as the Head of Revenue and Operations

Struggling Lordstown Motors expects to end production of its EV pickup ‘in the near future’

Lordstown Motors gave rides in prototypes of its upcoming electric Endurance pickup truck on June 21, 2021 as part of its “Lordstown Week” event. Michael Wayland / CNBC Lordstown Motors expects to end production of its Endurance pickup truck “in the near future,” as the embattled EV startup runs out of cash and seeks additional… Continue reading Struggling Lordstown Motors expects to end production of its EV pickup ‘in the near future’

Yuma Energy appoints Deepak Nanwani as head of revenue, operations

He will also drive partnerships with communities, OEMs and stakeholders for stronger integration of e-mobility into the fabric of cities. Bengaluru: Yuma Energy (Yuma), a joint venture between Magna, one of the world’s largest automotive suppliers and Yulu, India’s largest shared electric micro-mobility player, has appointed Deepak Nanwani as the Head of Revenue and Operations.… Continue reading Yuma Energy appoints Deepak Nanwani as head of revenue, operations

Magna wins new high-voltage eDrive business with European premium carmaker

Magna International has announced it has been awarded a high-volume contract with a Europe-based global premium OEM to supply its new eDrive system (eDS Mid). The eDrive is planned for 2027 model SUVs / sedans, with production expected to begin in 2026. “The electrified powertrain technologies of the future are being developed today. We are… Continue reading Magna wins new high-voltage eDrive business with European premium carmaker