With a production area measuring 6,000 square meters, the plant has the capacity to produce more than 360,000 seat sets per year.
But auto sales in the U.S. jumped to an annualised level of more than 17 million units in September, Scotiabank said, beating expectations.
The sale to South Korea-based Hanon Systems reflects Magna’s focus on being a “full-system supplier of transmission and other driveline-related systems,” Magna said.
The joint venture will support Morocco’s growing automotive export production.
Auto sales growth has also slowed down markedly in the U.S. and Mexico, a new report from Scotiabank says.
Thin, flexible lighting creates many new possibilities for design and product differentiation, Magna said.
The Trump administration is calling on Canada to endorse the recent agreement reached by the U.S. and Mexico, which featured important decisions made by the two countries on autos.
Adoption of composite-grade HPPs could take the global market past US$3 billion by 2024, a new study by Frost & Sullivan says.
Inapal, headquartered in Portugal, is a Tier One supplier of composite components to the automotive and heavy truck industries.
Trade policy uncertainty is causing pessimism across the automotive supply base, despite a strong sales and production environment, a new survey conducted by the Original Equipment Suppliers Association says.
The Canadian automotive parts maker – which has manufacturing operations in all three NAFTA countries, China and throughout Europe – reduced its estimate for total sales in 2018 by 1.4 per cent from its previous outlook.
The drop was led by poor Fiat-Chrysler sales, which recorded their worst month since early-2014.
But cracks are beginning to appear in certain emerging economies, a new report from Scotiabank says, and the threat of rising U.S. protectionism seems to have impacted vehicle sales in China.
Sage, founded in 2009 and located in Greenville, S.C., is a Tier 2 supplier of seat fabric and other automotive interior applications.
A thermoplastic liftgate takes top spot in the body exteriors category, a carbon fibre subframe wins first place in the chassis category, and a thin-wall torsional welding process wins the enabling technology category.
The $352-million deal will make Aurora, Ont.-based Magna a global lighting supplier.
Viking said the purchase of Indiana-based genesis adds to its current line of custom injection molded products and assemblies for the automotive, HVAC, and industrial markets.
Gingl, 69, was the CEO of Magna Aftermarket from 2008 to 2010, after having served as executive vice chairman of Magna International Inc. from 2002 to 2007.
Volvo has already produced a one-off XC60 plug-in hybrid using recycled parts to illustrate the potential of this raw material reduction.
Aurora, Ont.-based Magna will retrofit May Mobility’s low-speed self-driving electric transit vehicles with custom doors, a panoramic moon roof, drive-by-wire technology, and sensor integration.