Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion, compared to 7% increase in global light vehicle production Sales increased 4% excluding foreign currency translation and acquisitions net of divestitures Diluted earnings per share and Adjusted diluted earnings per share increased to $0.94 and $1.33, respectively, compared to $0.33 and $0.94 last year Paid… Continue reading Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
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Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Magna International Inc. Swamy Kotagiri, Magna’s Chief Executive Officer “I am pleased with our 2023 operating performance, highlighted by strong execution on higher sales, success in offsetting inflationary pressures, and the benefits from operational excellence activities across the company. We completed the acquisition of Veoneer Active Safety, and are on track to deliver meaningful synergies… Continue reading Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion, compared to 7% increase in global light vehicle production Sales increased 4% excluding foreign currency translation and acquisitions net of divestitures Diluted earnings per share and Adjusted diluted earnings per share increased to $0.94 and $1.33, respectively, compared to $0.33 and $0.94 last year Paid… Continue reading Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Yuma Energy completes 10 m battery swaps in a year
Yuma’s rapid growth makes it one of India’s largest and fastest-growing BaaS networks. New Delhi: Yuma Energy, the technology-powered battery-as-a-service (BaaS) company founded as a joint venture between Magna and Yulu, has completed 10 million battery swaps. Yuma’s rapid growth makes it one of India’s largest and fastest-growing BaaS networks. With 125-plus Yuma stations clocking… Continue reading Yuma Energy completes 10 m battery swaps in a year
Magna wins specialised eDrive system business with North American OEM
Magna is growing its electrification customer base with a newly awarded contract from a North America-based OEM to supply a specialized primary rear eDrive system for one of the company’s high-end niche vehicle platforms. The award reinforces Magna’s commitment to supporting the automotive industry’s short and long-term transformational needs. The highly complex system, a variant… Continue reading Magna wins specialised eDrive system business with North American OEM
Magna wins specialised eDrive system business with North American OEM
Magna is growing its electrification customer base with a newly awarded contract from a North America-based OEM to supply a specialized primary rear eDrive system for one of the company’s high-end niche vehicle platforms. The award reinforces Magna’s commitment to supporting the automotive industry’s short and long-term transformational needs. The highly complex system, a variant… Continue reading Magna wins specialised eDrive system business with North American OEM
Magna Awarded Specialized eDrive System Business With North America-Based OEM
New electrification program to support high-end niche vehicle platform Primary rear system is a variant of Magna’s 800V eDS Duo, delivering exceptional power and performance in one package Award reflects company’s expertise in electric powertrain system engineering, integration AURORA, Ontario, Feb. 06, 2024 (GLOBE NEWSWIRE) — Magna is growing its electrification customer base with a… Continue reading Magna Awarded Specialized eDrive System Business With North America-Based OEM
@BMW: BMW Group Plant Steyr wins INDUSTRIE 4.0 AWARD003224
Munich/Steyr. The world famous INDUSTRIE 4.0 AWARDS are presented by the operations consultancy ROI-EFESO recognition of innovative solutions in digitalisation and automation. At the ceremony in early February in Munich, BMW Group Plant Steyr scooped the coveted award in the category for Discrete Manufacturing. Over 200 digitalisation solutions already in operation The BMW Group’s Austrian… Continue reading @BMW: BMW Group Plant Steyr wins INDUSTRIE 4.0 AWARD003224
Magna Awarded Specialized eDrive System Business With North America-Based OEM
New electrification program to support high-end niche vehicle platform Primary rear system is a variant of Magna’s 800V eDS Duo, delivering exceptional power and performance in one package Award reflects company’s expertise in electric powertrain system engineering, integration AURORA, Ontario, Feb. 06, 2024 (GLOBE NEWSWIRE) — Magna is growing its electrification customer base with a… Continue reading Magna Awarded Specialized eDrive System Business With North America-Based OEM
Magna Awarded Specialized eDrive System Business With North America-Based OEM
Magna International Inc. Magna Specialized eDrive System Magna’s specialized eDrive system will deliver 726 kW of power, 8,000 Nm of torque to a high-end niche vehicle platform New electrification program to support high-end niche vehicle platform Primary rear system is a variant of Magna’s 800V eDS Duo, delivering exceptional power and performance in one package… Continue reading Magna Awarded Specialized eDrive System Business With North America-Based OEM