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Magna announces $70 million EV battery facility for Michigan

Magna announces $70 million EV battery facility for Michigan
Facility will build battery enclosures for new GMC Hummer EV
Published:
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2022 GMC Hummer EV (WDIV)
Magna International is breaking ground on a $70 million manufacturing facility in St. Clair, Mich. where it plans to build complex battery enclosures for the all-new 2022 GMC Hummer EV.
This investment is
expected to create 304 jobs in St. Clair over the next five years. That’s according to Magna and Gov. Gretchen Whitmer.
“This investment by Magna will create great jobs for our state’s talented workforce as we continue to implement our Michigan Back to Work plan to get Michiganders back on their feet,” Whitmer said in a news release Tuesday. “This announcement reaffirms Michigan is transforming along with the automotive industry to ensure the next generation of mobility and electrification is designed, developed, tested, and built right here in our state.” ....

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[EXCLUSIVE] LG Electronics-Vingroup mobile talk collapses

[EXCLUSIVE] LG Electronics-Vingroup mobile talk collapses ....

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Magna Announces Fourth Quarter 2020 Results and Outlook

Diluted earnings per share of $2.45, compared to $1.43 in the fourth quarter of 2019
Adjusted diluted earnings per share of $2.83, more than double the fourth quarter of 2019
Cash from operating activities of $2.3 billion, compared to $1.7 billion in the fourth quarter of 2019
Raised quarterly cash dividend by 8% to $0.43 per share
Full Year 2020 Highlights
Sales of $32.6 billion decreased 17%, compared to vehicle production declines of 20% and 23% in our most significant production markets of North America and Europe
Returned $659 million to shareholders primarily through dividends
AURORA, Ontario, Feb. 19, 2021 (GLOBE NEWSWIRE) Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2020. ....

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Magna International Guides FY21 Total Sales Above View; Hikes Dividend 8%

WASHINGTON (dpa-AFX) - While reporting financial results for the fourth quarter on Friday, automotive supplier Magna International Inc. (MG.TO, MGA) initiated its net income and sales outlook ....

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Magna International Inc.: Magna Announces Fourth Quarter 2020 Results and Outlook

Magna International Inc.: Magna Announces Fourth Quarter 2020 Results and Outlook
Diluted earnings per share of $2.45, compared to $1.43 in the fourth quarter of 2019
Adjusted diluted earnings per share of $2.83, more than double the fourth quarter of 2019
Cash from operating activities of $2.3 billion, compared to $1.7 billion in the fourth quarter of 2019
Raised quarterly cash dividend by 8% to $0.43 per share
Full Year 2020 Highlights
Sales of $32.6 billion decreased 17%, compared to vehicle production declines of 20% and 23% in our most significant production markets of North America and Europe
Returned $659 million to shareholders primarily through dividends
AURORA, Ontario, Feb. 19, 2021 (GLOBE NEWSWIRE) Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2020. ....

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