As a result of the change negotiations, Valmet Automotive has decided to temporarily lay off a maximum of 860 employees until further notice. Some of the layoffs will be part-time. In addition, the employment of a maximum of 235 people will be terminated. The total impact of the reductions is a maximum of 1,030 person-years.… Continue reading Valmet Automotive concludes change negotiations
Tag: Contract Manufacturer
Valmet Automotive and Patria signed a Letter of Intent on armored vehicle production and testing
At the beginning of September, Valmet Automotive confirmed a new strategy outlining that in the future, the company will offer its in-depth expertise in industrial serial production to a variety of industries beyond the automotive industry. To the defense sector, Valmet Automotive offers the ability to manufacture technologically complex products and quickly increase the customer’s… Continue reading Valmet Automotive and Patria signed a Letter of Intent on armored vehicle production and testing
GAC Accelerates European Market Plan, Partnering with Magna to Deepen Localized Cooperation
GRAZ, Austria, Nov. 21, 2025 /PRNewswire/ — Today, GAC and Magna announced a widespread cooperation program to accelerate electric mobility and expand EV collaboration in Europe. The collaboration underscores GAC’s regional commitment, extending technical cooperation, supply and sales, while highlighting Magna’s leadership in vehicle manufacturing. Localized and customized collaboration of GAC’s electric SUV AION V is now underway… Continue reading GAC Accelerates European Market Plan, Partnering with Magna to Deepen Localized Cooperation
GAC Accelerates European Market Plan, Partnering with Magna to Deepen Localized Cooperation
GRAZ, Austria, Nov. 21, 2025 /PRNewswire/ — Today, GAC and Magna announced a widespread cooperation program to accelerate electric mobility and expand EV collaboration in Europe. The collaboration underscores GAC’s regional commitment, extending technical cooperation, supply and sales, while highlighting Magna’s leadership in vehicle manufacturing. Localized and customized collaboration of GAC’s electric SUV AION V is now underway… Continue reading GAC Accelerates European Market Plan, Partnering with Magna to Deepen Localized Cooperation
GAC Accelerates European EV Strategy with Magna Vehicle Assembly Program
GUANGZHOU, China and AURORA, Ontario, Nov. 20, 2025 (GLOBE NEWSWIRE) — Today, GAC and Magna announced a vehicle assembly program to accelerate electric mobility and expand localized EV production in Europe. The collaboration underscores GAC’s regional commitment, extending assembly, supply and sales, while highlighting Magna’s leadership in vehicle manufacturing. Serial production of GAC’s electric SUV… Continue reading GAC Accelerates European EV Strategy with Magna Vehicle Assembly Program
GAC Accelerates European EV Strategy with Magna Vehicle Assembly Program
GAC AION V electric SUV The GAC AION V electric SUV rolls through Magna’s Graz facility as serial production begins GAC and Magna SOP Event GAC and Magna teams celebrate the start of AION V electric SUV production at Magna’s Graz facility GUANGZHOU, China and AURORA, Ontario, Nov. 20, 2025 (GLOBE NEWSWIRE) — Today, GAC… Continue reading GAC Accelerates European EV Strategy with Magna Vehicle Assembly Program
GAC Accelerates European Market Plan, Partnering with Magna to Deepen Localized Cooperation
GRAZ, Austria, Nov. 21, 2025 /PRNewswire/ — Today, GAC and Magna announced a widespread cooperation program to accelerate electric mobility and expand EV collaboration in Europe. The collaboration underscores GAC’s regional commitment, extending technical cooperation, supply and sales, while highlighting Magna’s leadership in vehicle manufacturing. Localized and customized collaboration of GAC’s electric SUV AION V is now underway… Continue reading GAC Accelerates European Market Plan, Partnering with Magna to Deepen Localized Cooperation
Magna to produce China’s GAC electric vehicles in Europe
Roland Prettner, president of the Magna Steyr contract manufacturing business, said its expertise will allow automakers like GAC to localize production efficiently. China’s Guangzhou Automobile Group (GAC) will build its electric AION V model at a Magna facility in Austria, the two companies said on Thursday, a strategy that should help GAC avoid the EU’s… Continue reading Magna to produce China’s GAC electric vehicles in Europe
GAC Accelerates European EV Strategy with Magna Vehicle Assembly Program
GUANGZHOU, China and AURORA, Ontario, Nov. 20, 2025 (GLOBE NEWSWIRE) — Today, GAC and Magna announced a vehicle assembly program to accelerate electric mobility and expand localized EV production in Europe. The collaboration underscores GAC’s regional commitment, extending assembly, supply and sales, while highlighting Magna’s leadership in vehicle manufacturing. Serial production of GAC’s electric SUV… Continue reading GAC Accelerates European EV Strategy with Magna Vehicle Assembly Program
Magna International (TSX:MG): Is the Stock Still Undervalued After Its Recent Recovery?
Magna International (TSX:MG) has posted steady gains over the past month, climbing 6%. Its share price recovery comes as the company continues to attract investor attention in the automotive sector, even though its longer-term returns have been mixed. See our latest analysis for Magna International. Magna’s momentum is showing signs of building again. While the… Continue reading Magna International (TSX:MG): Is the Stock Still Undervalued After Its Recent Recovery?