Ford, supplier company Magna and telecommunications giant Verizon have joined forces to support a business accelerator project designed to foster innovative transportation solutions. Continue Reading...
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We knew that Nissan was working on an Infiniti compact, but we just didn’t know when it would reach production. It’s all cleared up today as the Japanese automaker has confirmed that its Infiniti Compact will enter production in 2014. Continue Reading...
Magna International is one of the largest automotive supply companies in the world, providing parts to American, German and Japanese auto giants alike. It might seem strange that such a company would introduce a concept car, but Magna is doing just that. It hopes in doing so to show off future car parts and far-reaching… Continue Reading...
Auto parts maganate Frank Stronach, who founded Magna International Inc. is being given a $1 billion dollar golden parachute for him to exit the giant corporation he founded in 1957. Stronach is something of a folk hero in Canada, where Magna is based. A penniless immigrant from Austria, Stronach founded the company and grew it… Continue Reading...
If you’re a fan of the all-new Camaro, likely you’ve heard about the upcoming convertible version and seen the concept. In all those photos you haven’t seen the convertible top… and for good reason. It didn’t really exist. According to a report by Automotive News, GM has awarded Magna the contract to build the Camaro… Continue Reading...
General Motors has decided to keep it’s European operations after all. GM has announced that due to the improved economy and improvements in the company’s bottom line, it will not sell off Opel and British automaker Vauxhall. General Motors had been negotiating to sell the group to a Russian-backed group fronted by Canadian autoparts maker… Continue Reading...
Frank Weber, the engineer that is currently running Chevy’s Volt project is parting ways with General Motors. Weber, will be returning to his homeland of Germany, where he will take up a senior management roll at Opel. GM is currently in the process of selling Opel to Canada’s Magna International and Opel is set to… Continue Reading...
The sale of GM’s European Opel division to Russian-backed Canadian autoparts maker Magna has been put on hold. The on-again, off-again saga is off-again as GM board is set to meet on November 3rd to review changes to the agreement. The changes, include a request by the German Economy Minister to GM, asking the company… Continue Reading...
After announcing earlier this week that it has not reached a deal to sell Opel, General Motors is now apparently exploring options to keep the European unit. This news comes as a surprise considering selling off Opel is a part of the company’s viability plan as submitted to the U.S. government in order to receive… Continue Reading...
After continued rumors that General Motors was still shopping-around its European Opel operations, it appears as though a new buyer has been found. RHJ International, a Belgian company has been cited as the latest bidder and apparently a tentative deal could be signed by the end of the week. Initially Opel was slated to be… Continue Reading...
Magna International will not be selling Opel cars in the United States or China, says company CEO Frank Stronach. The head of the Canadian auto parts supplier said that this was part of the deal he worked out with GM when purchasing its European Opel brand. Interestingly, however, there is no indication that the agreement… Continue Reading...
By solidifying a deal to take control of GM’s European operations, Canada’s Magna International Inc. is eager to start producing Opel cars in Canada. “We want to build Opel cars in Canada,” said company founder and CEO Frank Stronach. “Canada should have its own Canadian company … a truly Canadian automobile industry.” The third largest… Continue Reading...
Only yesterday it seemed as though Italian car maker Fiat was likely to purchase GM’s European Opel brand, but now a new player has emerged. Magna International, the Austrian-Canadian parts supplier to OEMs like Chrysler, Ford and Mercedes has “announced” plans to purchase a controlling share in Opel. The news didn’t come from Magna, however,… Continue Reading...