- Magna International (NYSE:MGA) says it landed additional business to further support Chinese electric vehicle start-ups after reaching a gearbox production milestone with the 100,00th eDrive gearbox produced for Jiangling Motors Company.
- "As powertrain electrification accelerates, especially in the Chinese market, we are positioned well to continue supporting automakers in their continued efforts to bring electrified vehicles to market quickly," says Magna powertrain exec Tom Rucker.
- In a broad statement, Magna says it continues to deliver comprehensive electrification solutions from mild hybrid to battery electric vehicles as the industry progresses toward a cleaner future.
- MGA +1.05% premarket to $96.56.
- Read more on the Magna production milestone