Valmet Automotive is expecting its sales from the Electric Vehicles (EV) batteries business to reach the level or even surpass that of vehicle contract manufacturing within the next few years. The growth will focus on the EV Systems business line with its battery system engineering and manufacturing services, but the company strategy emphasizes the importance… Continue reading Valmet Automotive is making battery systems a new company cornerstone
Tag: Contract Manufacturer
Magna Builds Its Electric Future by Making Cars for Start-Ups That Can’t
The big global Canadian auto-parts giant has the assets to build vehicles for companies that want to go asset light, from global car companies to electric-vehicle start-ups. That could give it a major role in the future, and as car sales recover, a higher share price. Go to Source
Valmet Automotive’s car plant is approaching CO2 neutrality ahead of schedule
Valmet Automotive has signed a supply contract for fossil-free district heating to the Uusikaupunki car plant. Together with the earlier supply contract for fossil-free electricity, the car plant has already reduced its CO2 emissions by 70 % since 2019. The car plant is aiming at carbon-neutral production by the end of 2021. Valmet Automotive has entered… Continue reading Valmet Automotive’s car plant is approaching CO2 neutrality ahead of schedule
EV startup Bollinger Motors moves to bigger HQ, plans to double staff – Automotive News Europe
At Bollinger Motors things are starting to move faster now. The suburban Detroit electric vehicle startup said Tuesday that it is in the process of doubling its staff and has opened a new headquarters and engineering center nearly five times larger than its original building. CEO Robert Bollinger told Automotive News that the last two… Continue reading EV startup Bollinger Motors moves to bigger HQ, plans to double staff – Automotive News Europe
Valmet Automotive sets up small series production for electric vehicles in Helmstadt-Bargen
Valmet Automotive, one of the world’s largest vehicle contract manufacturers and engineering service providers focusing on electric mobility, is expanding its site in Helmstadt-Bargen, Baden-Württemberg, Germany, to produce electrically powered small series vehicles for urban mobility. This was announced by Dr. Robert Hentschel, SVP Engineering at Valmet Automotive, during a visit of Dr. Nicole Hoffmeister-Kraut,… Continue reading Valmet Automotive sets up small series production for electric vehicles in Helmstadt-Bargen
INEOS Wins U.K. Legal Challenge to Totally-Not-a-Defender Grenadier SUV – Car and Driver
INEOS owner Jim Ratcliffe once tried to buy the rights to keep building the original Land Rover Defender. JLR didn’t approve the deal, so INEOS went ahead with an alternate-reality version called the Grenadier. This week, a court dismissed JLR’s appeal of the U.K. Intellectual Property Office’s decision that not everyone knows or cares what… Continue reading INEOS Wins U.K. Legal Challenge to Totally-Not-a-Defender Grenadier SUV – Car and Driver
Fisker says has tentative deal for Magna to build its electric SUV in Austria
DETROIT, Aug 7 (Reuters) – Electric carmaker Fisker Inc, which recently announced plans to go public through a merger with a so-called blank-check company, said on Friday it has a tentative deal for Canadian auto supplier Magna International Inc to build its Ocean electric SUV. Fisker said in a statement that it expects to reach… Continue reading Fisker says has tentative deal for Magna to build its electric SUV in Austria
Eyeing strategic partnership in EV business: M&M
Goenka said he does not foresee any dark clouds on the tractor side but challenges do remain in the passenger vehicle segment. New Delhi: Homegrown auto major Mahindra and Mahindra (M&M) is looking for strategic partners for its electric vehicles business in order to further scale it up, a top company official said on Friday.… Continue reading Eyeing strategic partnership in EV business: M&M
Magna International: Q2 Earnings Insights
Shares of Magna International (NYSE:MGA) moved higher by 2.8% in pre-market trading after the company reported Q2 results. Quarterly Results Earnings per share were down 207.55% over the past year to ($1.71), which missed the estimate of ($1.63). Revenue of $4,293,000,000 declined by 57.60% year over year, which beat the estimate of $4,140,000,000. Looking Ahead… Continue reading Magna International: Q2 Earnings Insights
Magna Announces Second Quarter 2020 Results
Light vehicle production in North America and Europe, our most significant production markets, down 70% and 59%, respectively; global light vehicle production down 42%Estimated COVID-19 impacts of approximately $5.5 billion on sales, $1.2 billion on both income from operations before income taxes and Adjusted EBITSales of $4.3 billion decreased 58%, diluted (loss) earnings per share… Continue reading Magna Announces Second Quarter 2020 Results