magna international

Magna And Government Of Ontario Team Up On New EV Project

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Our neighbors in the North want to see green in their future. No, not just money, but also green energy. Hence the Government of Ontario (Canada) has teamed up with one of the worlds largest automotive parts manufacturer Magna International Inc. to develop electric vehicle technologies. The project is said to cost $441-million and will… Continue Reading...

China’s BAIC in Bid to Buy Pininfarina

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BAIC currently owns the tooling, intellectual property and powertrain technology from the current Saab 9-3, which it purchased from General Motors and is already working on several new cars based on this platform, a new Pininfarina styled 9-3 could be one of them. Continue Reading...

Report: Chevy Camaro Convertible Contract Goes to Magna with Production of 20,000 Units Annually

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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...

Report: Top Chevy Volt Engineer Leaving GM for Opel

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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...

Report: GM Puts Opel Sale to Magna On Hold

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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...

Report: General Motors Considering Keeping European Opel Unit

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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...

Magna Bid to Buy Opel May Fall Through as GM Poised to Sign Agreement With Rival Bidder

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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 Deal Prohibits Sale of Opels In The U.S., But Not In Canada

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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...

Magna Wins Opel Bid, Wants to Build Cars in Canada

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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...

Ford Transforming Michigan Trunk Plant into Compact Car/Electric Vehicle Plant

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Ford will spend $550 million to transform it’s Michigan truck plant into a facility that bill be used to built the new Ford Focus, including an electric version of that vehicle. By transforming the Michigan Trunk Plant into a compact car facility as many as 3,200 jobs will be saved as demand for large SUVs… Continue Reading...