Sales more than doubled to $9.0 billion, reflecting global light vehicle production increase of 58% Diluted earnings per share and adjusted diluted earnings per share of $1.40, compared to losses of $2.17 and $1.71 last year, respectively Reduced outlook, largely reflecting reduction in expected global light vehicle production due to continued industry semiconductor chip shortage… Continue reading Magna Announces Second Quarter 2021 Results
Tag: Contract Manufacturer
Fisker-Foxconn EV partnership ‘moving faster than expected,’ CEO Henrik Fisker says
U.S. electric automaker Fisker expects operating expenses to reach between $490 million and $530 million this year, a slight increase in its business outlook for the year that is driven by R&D spending on prototypes for its Ocean SUV, testing and validation of advanced technology, hiring and its “accelerating” partnership with Foxconn. The company, which… Continue reading Fisker-Foxconn EV partnership ‘moving faster than expected,’ CEO Henrik Fisker says
Qualcomm wants to buy Veoneer for $4.6B, beating Magna’s offer
The $3.8 billion sale of Swedish automotive tech company Veoneer to Magna International hit a roadblock Thursday after chipmaker Qualcomm submitted a bid for the company for $800 million more. Qualcomm’s $4.6 billion bid, which comes in at $37 per share, has already received approval from the company’s board and would not need a stockholder… Continue reading Qualcomm wants to buy Veoneer for $4.6B, beating Magna’s offer
Qualcomm Bids $4.6 Billion for Veoneer in Battle With Magna
(Bloomberg) — Qualcomm Inc. offered to buy automotive technology company Veoneer Inc. for $4.6 billion, muscling in on a bid Magna International Inc. made for the supplier last month. At $37 a share, Qualcomm is offering an 18% premium to Magna’s $31.25-a-share bid. Veoneer and Magna said last month their boards had unanimously approved what… Continue reading Qualcomm Bids $4.6 Billion for Veoneer in Battle With Magna
Fisker and Bridgestone Unite Sustainability Ambitions with Partnership on Groundbreaking Fisker Ocean Electric Vehicle
The Fisker Ocean will make its global debut at the upcoming 2021 Los Angeles Auto Show, with production starting on November 17, 2022. The Fisker Ocean features extensive use of recycled materials, including a fully vegan interior, and will come with an optional photovoltaic solar roof. The Fisker Ocean will sit on custom-developed Bridgestone Potenza… Continue reading Fisker and Bridgestone Unite Sustainability Ambitions with Partnership on Groundbreaking Fisker Ocean Electric Vehicle
First Production-ready Battista Prepared For World Debut At Monterey Car Week
Inside, the first production-spec model to emerge from the Cambiano atelier facility in Italy, features black sustainable luxury leather with striking Iconica Blu contrast stitching and quilted Pilota seats in Iconica Blu Alcantara. The seats feature Pilota Carbon Components finished in black exposed signature carbon coordinating with the striking exterior. Monterey Car Week will also… Continue reading First Production-ready Battista Prepared For World Debut At Monterey Car Week
LG and Magna to manufacture electric powertrain components
LG Magna e-Powertrain headquarters in Incheon, South Korea LG Electronics and Magna International have signed a transaction agreement to set up a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a strong management team. Leading the new company will… Continue reading LG and Magna to manufacture electric powertrain components
LG Announces Second-Quarter 2021 Financial Results
July 29, 2021 LG Announces Second-Quarter 2021 Financial Results Open share list Share this content. Highest Quarterly Sales Ever As Mobile Division Officially Winds Down SEOUL, July 29, 2021 — LG Electronics Inc. (LG) announced its highest quarterly revenues ever as the company continued to expand its market share for premium home appliances and consumer… Continue reading LG Announces Second-Quarter 2021 Financial Results
Fisker invests in EV charging network Allego’s SPAC merger
Less than a year after its own SPAC merger, electric vehicle startup Fisker has turned investor to support EV charging company Allego. Fisker is investing $10 million in private-investment-in-public equity (PIPE) funding for the merger of Allego and special purpose acquisition company Spartan Acquisition Corp III. The merger, announced Tuesday, puts Allego at a pro… Continue reading Fisker invests in EV charging network Allego’s SPAC merger
Magna Signs Joint Venture Agreement With LG Electronics Focussed On Powertrain Components
Bloomberg Tilray Surges as Cannabis Poised to Benefit After Lockdown (Bloomberg) — Tilray Inc. shares surged the most in more than five months as investors rewarded the cannabis company for profiting even amid challenges due to Canada’s Covid-19 restrictions.Net income was $33.6 million for the fiscal fourth quarter ended May 31, compared with a loss… Continue reading Magna Signs Joint Venture Agreement With LG Electronics Focussed On Powertrain Components