Recent events
Recent events tied to this brand in public sources.
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2022
Sanctuary raises $58.5 million in Series A funding
Sanctuary Cognitive Systems Corp. said it raised $58.5 million in an early-stage Series A funding round.
2022
Magna launches EtelligentForce electric powertrain
Magna launched EtelligentForce, a battery-electric powertrain system designed to be installed in existing combustion-powered pickup trucks.
2022
Magna acquires Optimus Ride technology and assets
Magna acquired the technology, intellectual property and assets of autonomous-vehicle startup Optimus Ride, and hired more than 120 of its employees. Optimus Ride will cease operations.
2021
Nielsen announces Nielsen ONE Alpha debut
Nielsen announced that Nielsen ONE Alpha, its deduplicated ad measurement offering, would debut at the upcoming Consumer Electronics Show. Disney and MAGNA were participating in the Alpha program.
2021
Magna reports third-quarter 2021 results
Magna released its third-quarter results on November 5, reporting revenue of $7.9 billion, down 13.1% year over year, and lower operating and net income than a year earlier. The article attributes the production and financial pressure in part to the ongoing microchip shortage and lower global vehicle production.
2021
Magna opens seating plant in Serbia
Magna International opened a new seating plant in Aleksinac, Serbia, which is intended to produce seating products for European automakers.
2021
Magna announces acquisition of Veoneer
Magna announced that it would acquire Veoneer for approximately $3.8 billion in cash. The transaction had been approved by both companies’ boards and was expected to close before the end of the year.
2021
Fisker and Magna finalize Ocean manufacturing agreement
Fisker and Magna finalized a long-term manufacturing agreement covering Fisker's Ocean electric SUV, with production planned to begin in November 2022.
2021
Magna appoints Nick Durrant as managing director
IPG Mediabrands’ CEO Mark Coad appointed Nick Durrant to the role of managing director of Magna.
2020
PMG Shanghai receives supplier awards from Magna and ShuangHuan
PMG Shanghai received the Cost Optimisation Contribution Award from Magna and the Excellent Supplier Award from ShuangHuan.
2020
Magna announces majority stake acquisition in Hongli Zhixin seating joint venture
Magna announced an agreement with Hongli Zhixin to deepen their existing joint venture and acquire a majority stake in the joint venture. The transaction was planned for completion in early 2021.
2020
Magna announces Highland Park plant expansion
Magna announced an expansion of its Highland Park, Michigan site by approximately 5,000 square feet to meet new full-seat assembly contracts. The project was expected to involve $35.4 million in private investment and create 480 jobs.
2020
Magna withdraws its 2020 outlook
Magna International withdrew its 2020 outlook, citing the high degree of business uncertainty caused by the COVID-19 pandemic.
2020
Waymo raises $2.25 billion in funding
Waymo received $2.25 billion in funding from a group of investors, including Silver Lake, the Canada Pension Plan Investment Board, Mubadala, Magna, Andreessen Horowitz, AutoNation and Alphabet.
2020
Lyft and Magna to wind down autonomous-driving development partnership
Lyft said it would phase out its existing development partnership with Magna over the coming weeks, while continuing to work with Magna as an autonomous-driving supplier.
2020
Sony displays VISION-S concept car at CES 2020
Sony displayed a vehicle named VISION-S at its CES 2020 presentation. The article describes it as a prototype and says Sony and Magna jointly designed its electric-vehicle platform.