Magna
Magna International and LG have created a joint venture to develop powertrains for electric vehicles.
Magna has been elevating its profile as electrification sweeps the auto industry, while LG also has a deal to build a battery factory with GM. The strategy has been a long time coming, Magna s new CEO, Swamy Kotagiri, said in an interview with Insider.
Magna International is rapidly becoming a huge player in the auto industry.
The $23-billion, Canada-based company was already big. Founded in 1957, it s long been known as a premier parts supplier, and through its Austrian Magna Steyr division, it runs the world s largest contract manufacturing facility, building vehicles for the likes of BMW and Jaguar Land Rover.
Magna has signed an agreement to acquire majority ownership of Honglizhixin, a seat supplier to Chinese automakers.
26 August 2020
Magna is expanding its powertrain business with a new facility in Kechnec, Slovakia, the first powertrain metal-forming solutions plant for the company in Europe.
10 August 2020
Magna International reported financial results for the second quarter and first half ended 30 June, 2020 with significant operating losses, as expected.
6 July 2020
Magna is hailing the fact it received six awards from General Motors at the automaker s annual supplier recognition event.
1 July 2020
INEOS Automotive has revealed the exterior design of the Grenadier, its upcoming, no-nonsense 4Ã4 vehicle for the world .
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Henrik Fisker and Swamy Kotagiri spoke with Insider about Fisker and Magna s partnership and Fisker, Inc. s asset-light business model.
Fisker and Magna recently announced that they would develop new driver-assist technology.
Magna is building Fisker s first vehicle, the all-electric Ocean SUV, entering production in 2022.
For over 100 years, car companies have followed the business model established by Henry Ford: build a factory, build automobiles, sell them to the public.
Ford, General Motors, Volkswagen, Mercedes-Benz, all their brethren, and now Tesla have sold millions of vehicles and banked billions of dollars following this playbook. But now Henrik Fisker, a serial auto entrepreneur and resurgent rival to Elon Musk, wants to upend the tradition.
Ford
The Mustang Mach-E was unveiled in late 2019 and went on sale in 2020.
Ford made a concerted effort to make sure the SUV the first new Mustang vehicle since 1965 was a true Pony Car. The whole point was to be desirable, to play to our strengths and make people wondrous, Darren Palmer, Ford s global product development director for electric vehicles, said in an interview with Insider.
Tesla proved that electric cars could be more than glorified golf carts. By making its vehicles fast and sexy, CEO Elon Musk s upstart has become the most valuable automaker in the world and posted record 2020 sales, just short of half a million units.
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