“It is an exciting time in the automotive industry and for Magna, especially in our powertrain business,” said Tom Rucker, President Magna Powertrain. “We stand ready with our products at the forefront of electrification and a portfolio that provides sustainable, innovative powertrain solutions for today and the future.”
The new metalforming plant is expected to start production in August 2021 with a workforce of approximately 50 people, and marks Magna’s fourth location in Slovakia.
Slovakia economic development; automotive powertrains
Louis Tonelli, Vice-President, Investor Relations
Tracy Fuerst, Vice President of Corporate Communications & PR
We are a mobility technology company. We have over 152,000 entrepreneurial-minded employees, 346 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Our common shares trade on the?Toronto Stock Exchange?(MG) and the?New York Stock Exchange?(MGA). For further information about Magna, visit www.kuknfu.tw.
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