Please click HERE for a PDF version of the release. Deal signed with Guangzhou Automobile Group Co., Ltd. (GAC) subsidiary Enables mass production of composite liftgates for fast-growing market Further expands Magna’s China footprint SHANGHAI, China, April 02, 2018 (GLOBE NEWSWIRE) — As the market for crossovers and sport utility vehicles continues to grow in… Continue reading News Release – Magna Forms Joint Venture in China to Support Growing Composite Liftgate Market
Tag: Financial Results
Nissan Leaf refurbished batteries offered for older electric cars, in Japan
Follow John 2013 Nissan Leaf, Nashville area test drive, April 2013 Enlarge Photo With more than 300,000 Nissan Leaf electric cars on the road, some more than six years old, battery degradation is becoming more and more of an issue. The different rates of capacity loss are a topic of much discussion among Leaf owners,… Continue reading Nissan Leaf refurbished batteries offered for older electric cars, in Japan
Motherson to acquire Reydel Automotive Group for $201m
Motherson Sumi Systems Ltd (MSSL), the flagship company of the Samvardhana Motherson Group (SMG), through its subsidiary Samvardhana Motherson Automotive Systems Group (SMRP BV), has announced the proposed acquisition of Reydel Automotive Group (Reydel), a privately held portfolio company of Cerberus Capital Management (Cerberus) that manufactures interior components and modules for global automotive customers. The… Continue reading Motherson to acquire Reydel Automotive Group for $201m
Aston Martin wants to have proprietary electric powertrain
When Andy Palmer took over as the CEO of Aston Martin in October 2014, his main aim was to turn the British marque into one “that can stand on equal terms with Porsche, Ferrari and Bentley.” While he is working on realising part of that aim with a new set of scorchers powered by internal… Continue reading Aston Martin wants to have proprietary electric powertrain
Nissan Leaf 30-kwh battery decline 3 times that of earlier electric cars: study
Follow John The Nissan Leaf, at least for the moment, remains the highest-volume electric car produced in history, with more than 300,000 sold. One of the measures that kept its cost down was the use of passive air cooling for its battery pack, rather than the pricier liquid cooling used by other makers to keep… Continue reading Nissan Leaf 30-kwh battery decline 3 times that of earlier electric cars: study
Press Release – Magna Provides Engineering Expertise to New Automaker VinFast
Please click HERE for a PDF version of the release. Complete vehicle development for two models Advanced engineering methods reduce development time to 12 months Vehicles will be built at the VinFast production plant in Haiphong, Vietnam SHANGHAI, China, March 29, 2018 (GLOBE NEWSWIRE) — Asia represents one of the strongest growing automotive markets in… Continue reading Press Release – Magna Provides Engineering Expertise to New Automaker VinFast
Ford CEO Jim Hackett earned $16.3 million as profit dropped
Hackett was abruptly named as CEO in response to investors’ growing unease about the US automaker’s slumping stock price and its ability to counter threats from longtime automotive rivals and upstarts in Silicon Valley. DETROIT: Ford Motor Co Chief Executive Officer Jim Hackett earned salary, bonus and stock awards of $16.3 million in 2017, while… Continue reading Ford CEO Jim Hackett earned $16.3 million as profit dropped
Carlos Ghosn Wants a Full-Fledged Renault-Nissan Union
Carlos Ghosn has revived two troubled automakers and he’s in the midst of doing so with a third. Now, he’s poised to undertake what might well be his final act: A full merger of Renault SA and Nissan Motor Co. after almost two decades of cooperation under a complex cross-shareholding alliance. Carlos Ghosn Photographer: Christophe… Continue reading Carlos Ghosn Wants a Full-Fledged Renault-Nissan Union
The key questions on the attempted hostile takeover of GKN
The war of words is almost over as GKN shareholders have until Thursday lunchtime to decide if they back GKN’s board or a new future under Melrose. But just what is at stake? :: What is GKN? GKN is the third-largest engineering company in the FTSE 100 after BAE Systems and Rolls-Royce. It is also… Continue reading The key questions on the attempted hostile takeover of GKN
Press Release – Magna Posts 2017 Annual Report
Please click HERE for a PDF version of the release. AURORA, Ontario, March 28, 2018 (GLOBE NEWSWIRE) — Magna International Inc. (TSX:MG) (NYSE:MGA) today announced that its 2017 Annual Report, including Management’s Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company’s website, www.magna.com. … Continue reading Press Release – Magna Posts 2017 Annual Report