(Toronto) Magna International intends to expand its global construction capacity in North America, as it focuses on the production of electric vehicles.
Posted on April 13, 2021 at 2:02 p.m.
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In an investor presentation, Magna executives said the Aurora, Ont., Auto parts company plans to become an industry leader in North America while aiming for carbon neutrality here. 2030.
CEO Seetarama Kotagiri said the company will partner with more foreign start-ups, as it recently did by announcing a collaboration with Innoviz Technologies for its transition to electric vehicles.
Israeli electric mobility startup REE on Monday announced a partnership with Magna to develop modular electric vehicles.
Last year, the supplier signed an agreement with LG Electronics to create a joint venture called LG and Magna e-Powertrain JV to manufacture components for electric cars.
The company said it expects sales to reach between US $ 43.0 billion and US $ 45.5 billion in 2023.
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