Magna International Inc. Market Research Report
Company Overview
Name
Magna International Inc.
Mission of the Company
Creating a better world of mobility, responsibly. Magna envisions a future where everyone can live and move without limitations, developing technologies, systems, and concepts to make vehicles safer and cleaner, and serving communities, the planet, and people.
Founded
1957
Founders
No information is available
Key People
Executive Officers: No specific names listed \
Board of Directors: No specific names listed
Headquarters
No information is available
Number of Employees
177,000 employees
Revenue
$42 billion (as of most recent available data)
Known For
Magna is known for being a leading global automotive supplier with expertise across the full vehicle systems, including design, engineering, and manufacturing.
Products
General Product Overview
Magna offers a broad array of automotive products, covering almost every aspect of vehicle engineering and manufacturing. These include body and chassis systems, powertrains, exterior and interior components, and complete vehicle engineering and manufacturing.
Product Categories and Key Features
1. Complete Vehicles
- Complete Vehicle Engineering: Provides full vehicle design services.
- Complete Vehicle Manufacturing: Comprehensive vehicle manufacturing capabilities.
2. Body & Chassis
- Battery Enclosures: Solutions for battery housing in electric vehicles.
- Body-in-White Solutions: Advanced lightweight body structures.
- Chassis Systems: Integration of suspension and frame components.
3. Electrical / Electronic
- ADAS & Automated Driving: Cutting-edge driver assistance and autonomous driving technologies.
- Control Modules: Electronic control units that manage vehicle systems.
4. Exterior / Interior
- Active Aerodynamics: Systems that improve vehicle aerodynamics.
- Exterior Systems & Modules: Various external vehicle components.
- Lighting: Innovative lighting solutions.
- Mechatronics: Integration of mechanical and electronic systems.
- Mirrors: Advanced mirror technologies.
- Seating: Ergonomic and customizable automobile seating systems.
- Trim & Greenhouse Technologies: Interior trim parts and large glass modules.
5. Powertrain
- Electrified Powertrain Products: Components and systems for electric vehicles.
- Conventional and Mild Hybrid Powertrain Technologies: Traditional and hybrid vehicle solutions.
- Powertrain Modules & Components: Integrated systems and parts for vehicle powertrains.
- Energy Storage Systems: Solutions for storing electrical energy in vehicles.
Recent Developments
New Partnerships
- Reconfigurable Seating Business with Chinese OEM: Magna was awarded a contract to supply an innovative reconfigurable seating system, which includes two rows of seats on long rails with a fully rotating front row.
New Products and Features
1. Magna Awarded Reconfigurable Seating Business with Chinese OEM: An innovative seating solution offering flexible seating arrangements, facilitating enhanced passenger comfort and space utilization.
2. Rebelle Rally Adventure: Participation in an all-women off-road rally competition, showcasing the durability and endurance of their technology in challenging conditions.
Financial Developments
1. Second Quarter 2024 Results: Comprehensive financial results reflecting the company's performance in Q2 2024.
2. Senior Notes Offering: Issued CAD senior notes to strengthen financial stability.
Mergers & Acquisitions
No information is available.
Additional Company Insights
Innovation and Culture
Magna prides itself on a highly integrated approach that serves as an innovation hub. They emphasize core values such as thinking big, taking responsibility, never settling, and being collaborative. This foundation supports their commitment to leading technological advancements and providing superior value to customers.
Historical Context
Founded in 1957, Magna has evolved from a simple garage operation to a $42 billion company. The company has consistently innovated over the years, entering various segments of the automotive industry, and achieving significant milestones in sales and product development.
Global Footprint
Magna operates 345 manufacturing facilities and 105 product development, engineering, and sales centers across 28 countries, supporting major automakers globally. This structure facilitates comprehensive regional support and a robust supply chain.
Core Values
- Think big: Empowerment to act with confidence.
- Take responsibility: Accountability in actions and commitments.
- Never settle: Continual innovation and improvement.
- Be collaborative: Teamwork with respect and humility.
This report provides a comprehensive overview of Magna International Inc., highlighting its mission, extensive product portfolio, recent developments, and organizational values. Magna remains a pivotal player in the global automotive industry, continually evolving to meet the challenges of modern mobility and technological innovation.