Magna International Inc., based in Aurora, Canada, is a manufacturer and supplier of complete automotive components. The company designs, develops and manufactures automotive systems, assemblies, modules and components, apart from engineering and assembling complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks.
The four reportable segments of Magna are —
Body Exteriors & Structures (accounting for 40.8% of total revenues in 2020) – The segment engages in designing and engineering of body structures, chassis structures, exterior systems & Modules, trim & automotive jewelry, active aerodynamics, and fuel systems.
Power & Vision (29.4%) – The unit works on improving the mode vehicles move and interact. It works on powertrain electrification, transmissions, powertrain subsystems & components, ADAS & automated driving, control modules, mechatronics, mirrors, and lighting.
Seating Systems (13.4%) – This business line innovates comfortable and safe vehicle interiors with flexible configurations. It works on seat complete, structural products, and foam & trim.
Complete Vehicles (16.4%) – Apart from providing complete vehicle manufacturing, the unit offers modular solutions for vehicle parts and systems. It offers complete vehicle engineering and manufacturing.
The Canadian vehicle component provider’s operations are dependent on growth of auto manufacturing and sales across all the key markets, consisting of North America, South America, Europe, Asia and Africa. In coming years, it expects China, South America, Eastern Europe and India to majorly drive revenue figures.
Magna has 346 manufacturing operations, 165,000 employees, and 94 product development, engineering and sales centers across 27 countries. General Motors, Ford, Fiat Chrysler N.V., BMW AG, Daimler AG and Volkswagen AG are its customers.