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Magna International reports developments in its automotive-supply business, including financial results tied to global light vehicle production, vehicle program launches, product mix, tariffs, foreign exchange, engineering revenue and complete vehicle assembly volumes. The company supplies automakers across North America, Europe and China with manufacturing expertise and vehicle systems spanning areas such as powertrain, electronics, body and chassis, seating, closures, electric vehicle systems and contract assembly.
Recurring updates also cover electrification and hybrid-drive products such as DHD REX for range-extended electric vehicles, shareholder returns through dividends and repurchases, annual report materials, annual meeting results, board elections, auditor appointments and other governance matters.
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Aurora, Ontario-based Magna International has scheduled its Q1 2023 results conference call for May 5, 2023, at 8:00 AM ET. The call can be accessed via toll-free numbers and international dialing options. A webcast link will also be made available on the company's official website. A slide presentation related to the results will be accessible prior to the call. The conference call will be rebroadcasted for those unable to attend live, available for playback until May 12, 2023. Investor relations contact details have been provided for further inquiries.
Magna has secured a new contract to produce the INEOS Automotive electric off-road vehicle, slated to begin manufacturing in Graz, Austria, in 2026. This partnership builds on an existing relationship, showcasing Magna's capabilities as a leading multi-OEM vehicle manufacturer. The contract emphasizes Magna's role not only in manufacturing but also in engineering the complete vehicle. This new addition to Magna's offerings illustrates their flexibility in handling both internal combustion engine and electric vehicles.
With over four million vehicles produced across its global operations, Magna aims to support INEOS Automotive in advancing its automotive vision. The collaboration reflects a strategic move in the evolving automotive landscape, particularly towards sustainable electric mobility.