2022-06-07

Magna Illuminates the Future of Styling With Breakthrough Lighting

  Integrated lighting technology for lightweight, recyclable thermoplastic liftgate that remains hidden until lit First-to-market design innovation gives “cool” factor for consumers Ready for production on mobility applications in 2023   Click here for the PDF version of the release AURORA, Ontario, June 02, 2022 (GLOBE NEWSWIRE) -- Exterior lighting is increasingly becoming a central styling differentiator while helping to improve safety through greater visibility. Magna’s Breakthrough Lighting...
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2021-04-19

With Hyundai apparently out of the picture, Apple may be leaning on the expertise of LG Electronics and Magna

The much-rumoured Apple car may be produced by LG Magna e-Powertrain. The two companies are said to be close to finalising an agreement to build Apple's first car, according to a new report from newspaper The Korea Times. Announced in December 2020, LG Magna e-Powertrain is the joint venture between Korean tech giant LG Electronics and the large Canadian automotive company Magna. Despite being only months old, the company is estimated to be valued at US$1 billion (AU$1.3B). "LG Magna e-Powertrain is very near to signing contracts with Ap...
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2020-11-12

Magna Announces Third Quarter 2020 Results

Sales of $9.1 billion decreased 2%, compared to 4% lower global light vehicle production Recorded non-cash impairment charges of $200 million after income taxes and loss attributable to non-controlling interests related to our investment in an equity accounted transmissions joint venture Diluted earnings per share of $1.35, compared to diluted loss per share of $0.75 in the third quarter of 2019 Adjusted diluted earnings per share of $1.95, 38% higher than the third quarter of 2019 Cash from operating activities of $1.6 billion, compared to $750 million in the thir...
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2020-03-30

Magna Withdraws Outlook and Produces Health Supplies in Response to COVID-19

Canadian automotive component supplier Magna updated its current actions responding COVID-19. The company reported withdrawal of its business outlook for 2020 and mentioned that it is helping to source and produce health care supplies and equipment to combat the coronavirus epidemic. Magna noted that a number of its OEM customers, particularly in North America and Europe, have initiated production downtime or have reduced production rates. It is uncertain whether OEMs will extend production downtime or further lower production rates as circumstances evolve. While spe...
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2019-11-27

Magna Acquires Czech Automotive Lighting Company

Canada-based automotive component provider Magna announced the acquisition of Wipac Czech, an automotive lighting engineering firm located in Czech Republic. The transaction was closed last week and will expand Magna’s engineering capabilities globally. Wipac Czech’s engineering team designs and develops automotive forward lighting, primarily for European exotic and luxury brand including Aston Martin, Bentley, Rolls Royce, McLaren, Lamborghini, Bugatti, Audi, Daimler, BMW and Porsche. (Image: Magna) “We see Wipac Czech playing an imp...
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2019-08-15

Magna Opens New Manufacturing Facility for Accelerating Innovative Technologies including ADAS and Micro LED Lighting

Automotive component supplier Magna announced the opening of a new electronics manufacturing facility in Grand Blanc Township, Michigan, USA. The facility consolidates three nearby locations into a single site which occupies 21,367.7 square meters (230,000 square foot). (Image: Magna) With nearly US$ 50 million investment, Magna expects the new facility to accelerate large-scale deployment of future technologies such as advanced driver assistance systems (ADAS), advanced robotics and Micro LED lighting. Magna built partnership with Micro LED technology p...
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2018-09-03

Magna and Rohinni Form Joint Venture to Develop Micro LED Lighting Solutions for Automotive Applications

Canadian automotive components supplier Magna and Micro LED startup Rohinni have announced to form a joint venture for producing thin and flexible Micro LED lighting solutions for vehicles. 
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2018-08-09

Magna Lowers Its Production Forecast for Tariff

Canadian automotive components supplier Magna has reported its net income of the second quarter with a growth of 13% YoY to US$636 million. Despite the growth, the company has adjusted its outlook for 2018 in response to tariffs. 
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2018-07-03

Magna Buys Olsa and Expands Lighting Business

Canadian automotive components supplier, Magna, announced that the company has signed a deal to buy Olsa S.p.A, an Italian automotive lighting producer for approximately 230 million euros. The acquisition will extend Magna’s capability of producing lighting product from designing to manufacturing. 
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2018-04-28

BMW Selects LiDAR Sensors from Magna and Innoviz Technologies for 2021 Autonomous Vehicles Series Production

On the road to developing autonomous technologies, perhaps nothing is more important than the vehicle being able to see the world around it. To help meet this challenge, Magna and Innoviz Technologies will supply the BMW Group with solid-state LiDAR for upcoming autonomous vehicle production platforms.
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2017-06-14

Magna Lights the Way with Industry-First D-Optic LED Headlamps

To improve forward visibility for drivers and provide customized styling options for automakers, Magna introduces D-Optic™ LED headlamps. D-Optic lighting represents the next generation of LED headlamps and an auto-industry first by combining multiple high-power LEDs with precise, injection-molded lenses to achieve high performance with efficient energy use.
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