Magna Intern Stock Price, News & Analysis

Magna has launched its new 48-Volt hybrid dual-clutch transmission, debuting on models including the Jeep Renegade and Fiat 500X. Produced in Slovakia, this transmission enhances driving dynamics and meets strict CO2 emissions targets. The system boasts a maximum torque of 320 Nm and supports better performance through electric torque vectoring. Magna has secured a multi-program agreement with Stellantis to provide additional hybrid models in Europe, signaling a strategic move towards vehicle electrification and regulatory compliance.

Magna International Inc. (NYSE: MGA) will host its Q3 2022 Results Conference Call on November 4, 2022, at 8:00 AM ET. Investors are invited to join via teleconference or webcast, with replay available until November 11, 2022. The call will provide detailed insights into the company's performance and outlook. Dial-in details include 1-800-926-5068 for North America and 1-416-620-9188 for international callers. An accompanying slide presentation will be accessible on the company's website prior to the call.

Magna is participating in the 2022 Rebelle Rally, an all-women rally covering over 1,550 miles across Nevada and California from October 6-15. The company is fielding a two-woman team, featuring engineers Michelle Figueroa and Sree Anandavally, who have been training in off-road driving. They will drive a Jeep Gladiator Rubicon equipped with Magna’s Ultimax transfer case, designed for optimal off-road performance. This initiative highlights Magna's commitment to employee empowerment and innovation in automotive technology.

Magna has launched a pioneering rear thermoplastic swing door technology on the Volkswagen ID. Buzz, marking a significant advancement in vehicle accessibility and design. These doors are 20 to 30 percent lighter than traditional steel options, enhancing vehicle range and user convenience. Utilizing recycled materials, the innovative design allows for improved styling, cost reduction, and better aerodynamics. With increasing demand for lightweight solutions amid the shift towards electric vehicles, analysts project a 15% growth for the thermoplastic liftgate market by 2028, positioning Magna well in this evolving sector.

On September 14, 2022, Magna unveiled its new 'last mile' delivery solution at the North American International Auto Show. This innovative service aims to cut delivery costs and carbon emissions in urban settings. The system features a lightweight electric robot, an autonomous driving system, and delivery software, allowing for diverse business models. The pilot program launched with a Detroit pizza restaurant has successfully delivered hundreds of pizzas. Additionally, Magna plans to expand into micromobility and collaborate with Cartken for a robot-as-a-service model.

Magna is making a strategic move into the micromobility market by investing $77 million in Yulu, India's top electrified shared mobility provider. This investment is expected to enhance sustainable urban mobility in India through a new battery-swapping service company, Yulu Energy. Magna will gain a stake in Yulu and a board seat. The partnership aims to capitalize on the growing demand for electric two-wheelers, with Yulu planning to expand operations to 15 additional cities within 18 months, further advancing Mobility-as-a-Service (MaaS) and Battery-as-a-Service (BaaS).

Magna and Cartken have announced a partnership to manufacture autonomous delivery robots, starting with production at a Magna facility in Michigan. The initial focus is on the Model C, with plans for additional models and applications in the future. Production capacity will increase in the coming months, with thousands of robots expected to be built. This collaboration aligns with Magna's strategy to explore new mobility opportunities, offering sustainable and cost-effective delivery solutions.

Magna is set to showcase its innovative capabilities at the 2022 North American International Auto Show (NAIAS), running from September 14-25, 2022, in Detroit. The company will highlight its electrification and Advanced Driver Assistance Systems (ADAS) expertise, featuring the first public display of its EtelligentForce technology, designed for electrifying pickup trucks. Other advanced technologies include eBeam™, Litgate, ClearView™, and FreeForm™. Magna's participation underscores its role as a leader in mobility technology.

Magna International (MGA) reported Q2 2022 sales of $9.4 billion, a 4% increase compared to Q2 2021, while global light vehicle production rose by 2%. However, diluted loss per share was $0.54, including $1.24 in non-cash impairment charges. Adjusted EBIT fell 36% to $358 million, primarily due to higher input costs and operational inefficiencies. Net income declined to $(156) million from $424 million YoY. The company forecasts total sales for 2022 between $37.6 and $39.2 billion, maintaining an Adjusted EBIT margin of 5.0% to 5.4%.