The world’s largest contract carmaker is leveraging its expertise to move into the huge Chinese EV market.
Magna will form two joint ventures with China’s BAIC.
The companies already have a deal in place to develop an electric vehicle; Magna will now take over an existing BAIC factory.
Magna International is the world’s largest contract manufacturer of automobiles, with clients ranging from BMW to Jaguar.
Now it’s moving into China, the world’s biggest car market, and forming partnerships to build electric vehicles.See the rest of the story at Business Insider
Elon Musk’s plans for Tesla keep getting weirder and it could put the company’s future at riskGM could make Wall Street’s dreams come true with a spinoff of its Cruise self-driving unitGM becomes first major auto company in history to have a female CEO and a female CFO
Read more: feedproxy.google.com.