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Magna International - $MGA STOCK NEWS

Welcome to our dedicated page for Magna International news (Ticker: $MGA), a resource for investors and traders seeking the latest updates and insights on Magna International stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Magna International's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Magna International's position in the market.

Rhea-AI Summary
Magna International Inc. to present market position and progress on Go-Forward Strategy, outlook updated to reflect active safety acquisition
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Magna starts production of Gen5 front camera module system for European OEM, supporting various platforms and vehicle models over the next few years.
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LG Magna e-Powertrain expands with new production facility in Hungary to support EV market growth
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Magna International Inc. (MG; MGA) reported a 17% increase in sales to $11.0 billion, with diluted earnings per share at $1.18. The acquisition of Veoneer Active Safety was completed, leading to an 81% increase in adjusted diluted earnings per share to $1.50. The company also raised its 2023 outlook for total sales, adjusted EBIT margin, and adjusted net income.
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Magna, a leading automotive supplier, has announced the start of production of a first-to-market, modular eDecoupling unit for battery electric vehicles (BEVs). The eDecoupling unit is an electromechanical device that disconnects the e-motor from the driveshaft when propulsion power is not needed, reducing energy consumption and increasing efficiency. It contributes to increased electric driving range of up to nine percent. The unit has a compact design and can be scalable for use across electric and hybrid vehicles from B segment up to SUVs and LCVs. Production will take place at Magna's powertrain facility in Lannach, Austria.
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Magna and onsemi have announced a long-term supply agreement for Magna to integrate onsemi's EliteSiC intelligent power solutions into its eDrive systems. This integration will improve the cooling performance, acceleration, and charging rates of Magna's electric vehicles, increasing their efficiency and range. Additionally, onsemi's silicon carbide manufacturing capability will simplify Magna's supply chain and meet the growing demand for SiC-based products for EVs. Magna will also invest $40 million for the procurement of new SiC equipment to ensure future supply.
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Magna International

NYSE:MGA

MGA Rankings

MGA Stock Data

13.39B
286.32M
6.19%
74.42%
3.42%
Motor Vehicle Gasoline Engine and Engine Parts Manufacturing
Manufacturing
Link
United States of America
Aurora

About MGA

magna international stanztechnik gmbh automobiltechnik dürbheim is a management consulting company based out of 8 in breiten, dürbheim, germany.