Magna International Inc.
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in mil. unless spec.Company Description
- CEO
- Seetarama Kotagiri
- Full Time Employees
- 156,000
- Sector
- Producer manufacturing
- Industry
- Auto parts: OEM
- Address
- 337 Magna Drive Aurora ON Canada L4G 7K1
- IPO Date
- Aug 24, 1984
- Website
- magna.com
- Similar Companies
- Business
- Magna International Inc. is a global automotive supplier and mobility technology company headquartered in Aurora, Ontario, Canada, founded in 1957. The company develops, manufactures, and supplies a comprehensive portfolio of automotive products including body exteriors and structures; chassis systems; powertrain systems such as hybrid, dual, and electric drive solutions; advanced driver assistance systems (ADAS), camera systems, lighting products, and mirrors; seating systems encompassing seat structures, mechanisms, and trim; as well as complete vehicle engineering and contract manufacturing services. Magna operates a global network encompassing 341 manufacturing operations and 88 product development, engineering, and sales centers across 29 countries, serving major automotive OEMs including General Motors, BMW, Stellantis, Daimler, Ford, and Volkswagen. Recent strategic developments include the acquisition of Veoneer's Active Safety business in 2023 for approximately $1.44 billion, enhancing Magna's footprint in advanced safety and ADAS technologies. The company also completed the acquisition of HE System Electronic GmbH in 2024, expanding its electronic systems manufacturing capabilities. Magna secured significant contracts for electric vehicle (EV) production, including a partnership to engineer and manufacture INEOS Automotive's electric off-road vehicle with production starting in 2026 and a new EV assembly partnership with XPENG for the European market commencing in 2025. Additionally, Magna invested $790 million in U.S. manufacturing facilities to supply battery enclosures, truck frames, and seats for Ford's EV lineup, including the F-150 Lightning, reinforcing its position in the North American EV supply chain. Magna’s product innovation pipeline features dedicated 800-volt hybrid drive systems, reconfigurable seating for China-based OEMs, and hot-stamping processes using advanced materials for the Japanese market. Its business model capitalizes on geographic diversification with operations in North America, Europe, and Asia-Pacific, and targets both traditional internal combustion engines and emerging electrified vehicle platforms. Magna also leverages its unique capability to produce complete vehicles, supporting an expanding contract manufacturing segment projected to contribute around $7.5 billion in sales. This strategic expansion, combined with continuous product development and alliances with legacy and emerging automakers, positions Magna International as a leading supplier in the evolving global automotive industry with strong focus on electrification, safety, and mobility innovation.
Company News
Magna International Inc (MGA) Stock Down 3.9% but Still Overvalued -- GF Score: 77/100
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