Cosma is awarded its first major hydroforming program to supply subframes for full-size pickups and sport utility vehicles; one of the largest industry contracts ever awarded.
Decoma International Inc. Magna acquires Steyr-Daimler-Puch, one of the world's leading automotive technology and engineering companies with complete vehicle assembly capabilities. Forbes magazine names Magna the world's top auto parts company. Magna structures its operating groups along global product lines. Magna's Board of Directors approves the establishment of a separate public company to hold its non-automotive businesses.
Welcome to the s, a decade of evolution for Magna. As the world became connected on a mass global scale at the start of the new millennium, Magna also evolved into a more global corporation with a more diverse product portfolio. Magna announces the formation of the Magna Steyr group, a premier supplier of total vehicle engineering and one of the world's leading suppliers of niche vehicle assembly and vehicle concept development.
Intier Automotive Inc. Magna acquires Donnelly Corporation, creating one of the world's leading exterior and interior mirror suppliers, with lighting, engineered glass systems and advanced electronics capabilities.
MI Developments Inc. Magna acquires the worldwide operations of New Venture Gear, a DaimlerChrysler subsidiary specializing in the production of transfer cases and other drivetrain products. Magna announces the creation of a new operating group, Magna Drivetrain, which focuses on the development and production of drivetrain technologies and all-wheel-drive systems. Magna completes the privatizations of its three public subsidiaries, Tesma International Inc. Magna acquires CTS, Porsche's car top systems subsidiary.
The first two Magna plants on the African continent start production. Magna co-develops the Swivel 'n Go seat system featured on the Chrysler Minivan. Magna announces the development of an electric vehicle and becomes the largest automotive parts supplier in North America on the basis of sales.
While a global economic crisis sharply lowers automobile production, Magna continues to be recognized as a top supplier by several customers, including Toyota, General Motors and Ford.
Magna continued to expand its presence globally during a time of rapid economic growth across many regions. A transition started to take shape through the decade, with autonomy, connectivity and new forms of mobility growing in importance. The evolution underscored Magna's commitment to deliver innovative and proven technology around the world to support its customers. Aptiv Plc formerly Delphi Automotive Plc history, profile and history video Aptiv Plc formerly Delphi Automotive Plc operates as a global vehicle components manufacturer and provides electrical and electronic, ac Autoliv, Inc.
It develops, manufactures and markets airbags, seatbelts, steering wheels, passive safety electronics and a AutoZone, Inc. Added by chcom. A Canadian company called Magna International is one of the huge success stories. In , Magna decides to concentrate solely on the auto industry and sells its other operations, which include the manufacture of defence and industrial components. By , Magna produces more than 5, parts used in cars and is supplying automakers around the world.
Frank Stronach opened a one-man tool and die shop called Multimatic in Toronto. In , Multimatic merged with Magna Electronics, a publicly traded aerospace, defence and industrial components manufacturer.
General Motors of Canada announces it will close its last remaining plant in Quebec. Canada must go it alone without the Auto Pact. The agreement that built its powerhouse auto industry is no more. On 3 November , the GM board called off the Magna deal after coming to the conclusion that Opel was crucial to GM's global strategy.
Together with the electric- and hybrid-vehicle capabilities of other Magna groups, the company began to assemble all of its electric and hybrid propulsion activities into one entity. On August 31, , Magna E-Cars Systems [17] was formed as a joint venture between Magna and its founder's enterprise. This project started in A few months after a round of preliminary discussions with Ford Motor Company with regard to all-electric BEV vehicles, Magna made a surprise visit [19] to Ford in August to demonstrate a Ford Focus it had procured and converted to battery operation on its own time and expense.
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