Auto supplier Magna to manufacture BMW 5-series plug-in hybrids


Auto supplier Magna to manufacture BMW 5-series plug-in hybrids
  1. Auto supplier Magna to manufacture BMW 5-series plug-in hybrids
    business-standard.com
    Magna is alone among top auto suppliers to perform contract manufacturing for…
    Markets

Canadian auto supplier Magna International Inc will produce BMW's new 5-series plug-in hybrid at its Austrian factory, the company said on Monday, part of a strategy to produce electric cars on a contract basis for global automakers. The BMW 530 plug-in hybrid will be manufactured beginning this summer at Magna's plant in Graz, Austria, where it already plans to produce Jaguar's I-PACE SUV beginning in early 2018. Global automakers and their suppliers are investing heavily in fully-electric and gasoline-electric hybrid vehicles. Consumer demand is still low versus that for gasoline engine vehicles, but companies are beginning to offer more choices to respond to government mandates for greater sales of vehicles that emit little or no carbon dioxide, and prepare for future experts believe will be dominated by electric vehicles. Rival tier-one auto supplier Continental AG, for example, said in April it was increasing spending by $334.68 million on new products such as charging systems and battery management components related to electric vehicles. Magna, North America's largest automotive supplier and the third globally, is alone among the top auto suppliers to perform contract manufacturing for carmakers. Its Austrian plant can produce about 200,000 cars per year. Magna is currently building a new paint shop in Slovenia due to increased demand. A Magna spokeswoman would not comment on a statement by the Slovenian government in March that the auto supplier would potentially invest up to 1.24 billion euros in the country, including a car plant with a capacity of 100,000 to 200,000 vehicles per year. Having contract manufacturing in its portfolio creates a niche for the company as automakers slowly bring more electrified vehicles to market…

  1. US Brass mill products trade increases in April

    Scrapregister.com - Markets
    06.19 / 22:16 scrapregister.com
    Brass mill products exports and imports by United States during April has increased when compared to the corresponding period in 2016, as per Copper & Brass Fabricators…
  2. Global refined Zinc metal deficit at 112000 tons

    Scrapregister.com - Markets
    06.19 / 22:16 scrapregister.com
    A shortfall in refined Zinc metal was seen in the global market, as during the initial four months of this year deficit was seen at 112000 mt against 115000 mt during the same period last…
  3. Singapore PM says sorry for family feud

    Business-standard.com - Markets
    06.19 / 19:07 business-standard.com
    The Lees are the closest thing Singapore has to…
  4. Some global investors see fresh worries in an old problem: China

    Business-standard.com - Markets
    06.19 / 19:07 business-standard.com
    Fund managers name China as potential source for an unpleasant surprise for global markets:…
  5. YouTube sets new policies to curb extremist videos

    Business-standard.com - Markets
    06.19 / 18:35 business-standard.com
    For videos that violated community guidelines or promoted terrorism, Google would remove…
  6. Petrol, diesel prices cut for fifth straight day since daily revision; Petrol down by 10 paise/litre in Delhi

    Financialexpress.com - Markets
    06.19 / 17:42 financialexpress.com
    State-run Indian Oil Corp cut the price of petrol in Delhi by 10 paise per litre including state taxes and levies, and that of diesel by 5 paise per litre for sale from 6 am tomorrow (Tuesday) till 6 am on Wednesday. The post Petrol, diesel prices cut for fifth straight day since daily revision; Petrol down by 10 paise/litre in Delhi appeared first on The Financial …
  7. Bank stocks in focus as NPA resolution efforts gain traction

    Financialexpress.com - Markets
    06.19 / 17:42 financialexpress.com
    Bank stocks today rose by up to 2 per cent as NPA resolution efforts are gaining traction after the Reserve Bank asked lenders to initiate bankruptcy proceedings against large defaulters. The post Bank stocks in focus as NPA resolution efforts gain traction appeared first on The Financial …
  8. LIC corners 38.67% of SBI’s Rs 15,000 cr QIP

    Financialexpress.com - Markets
    06.19 / 17:42 financialexpress.com
    State-owned Life Insurance Corporation (LIC) bought shares worth over Rs 5,800 crore in SBI's Rs 15,000 crore qualified institutional placement (QIP). The post LIC corners 38.67% of SBI’s Rs 15,000 cr QIP appeared first on The Financial …
  9. In China, universities teach how to go viral online

    Business-standard.com - Markets
    06.19 / 17:34 business-standard.com
    A 21-year-old student walked around her campus in China using invaluable skills she learned in class: Holding a selfie stick aloft, she livestreamed her random thoughts and blew kisses at her phone. Jiang Mengna is majoring in "modelling and etiquette" at Yiwu Industrial & Commercial College near Shanghai, aspiring to join the growing ranks of young Chinese cashing in on internet stardom. Hordes of Chinese millennials are speaking directly to the country's 700 million smartphone users,…
  10. Russia to 'target' US-led planes flying over Syria

    Business-standard.com - Markets
    06.19 / 16:32 business-standard.com
    After the US military shot down a Syrian air force jet on…
  11. Qatar says won't negotiate until economic boycott ends

    Business-standard.com - Markets
    06.19 / 16:32 business-standard.com
    The countries accuse Qatar of supporting Islamist militants and stirring up…
  12. Qatar Airways to operate in India? Firms up order for 20 Boeing 737 jets

    Business-standard.com - Markets
    06.19 / 16:02 business-standard.com
    Al Baker also said the CSeries jet by Bombardier could fit for the domestic Indian…
  13. EU extends sanctions against Russia over Crimea for a year

    Business-standard.com - Markets
    06.19 / 15:32 business-standard.com
    Over its annexation of Ukraine's Crimean Peninsula in…
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    Financialexpress.com - Markets
    06.19 / 15:09 financialexpress.com
    The Reserve Bank of India has thrown all it could at the bad-loan problem. Yet the malaise continues to worsen. If forced bankruptcies fail, there is no Plan B. The post Insolvency action against 12 distressed borrowers is RBI’s nuclear strike on bad loans appeared first on The Financial …
  15. Eris Lifesciences IPO subscribed 75.45% on day 2; Angel Broking recommends to ‘subscribe’

    Financialexpress.com - Markets
    06.19 / 15:09 financialexpress.com
    Eris Lifesciences IPO has been subscribed 75.45% at the end of day 2 of bidding. Institutional investors have bid 81.50%, retail investors bid 167.81% while employees bid 33.10%. However, non-institutional investors have bid just 3.25% of their quota. The post Eris Lifesciences IPO subscribed 75.45% on day 2; Angel Broking recommends to ‘subscribe’ appeared first on The Financial…
  16. GTPL Hathway IPO to open from June 21-23; price band at Rs 167-170; lot size at 88

    Financialexpress.com - Markets
    06.19 / 15:09 financialexpress.com
    GTPL Hathway's IPO will be open for subscription from June 21-23. The issue will raise up to Rs 485 crore with a price band of Rs 167-170 per share with a lot size of 88 and in multiples thereof and the retail allocation will be 35%. The post GTPL Hathway IPO to open from June 21-23; price band at Rs 167-170; lot size at 88 appeared first on The Financial …
  17. Sebi disposes of fraud trade charges against 9 in Unitech case

    Financialexpress.com - Markets
    06.19 / 15:09 financialexpress.com
    Markets regulator Sebi today disposed of a case against nine entities for allegedly involving in fraudulent trading in the shares of Unitech Limited. The post Sebi disposes of fraud trade charges against 9 in Unitech case appeared first on The Financial …
  18. Bonds firm up, call rates finish higher

    Financialexpress.com - Markets
    06.19 / 15:09 financialexpress.com
    Government bonds (G-Secs) firmed up on rising buying support from banks and corporates and the overnight call money rates ended higher due to good demand from borrowing banks amid tight liquidity in the banking system. The post Bonds firm up, call rates finish higher appeared first on The Financial …
  19. Britain seeks 'positive and constructive tone' from EU during Brexit talks

    Business-standard.com - Markets
    06.19 / 14:59 business-standard.com
    On first day of Brexit negotiations, Britain said they seek new, special partnership with…
  20. European stocks head for biggest rise in two months

    Business-standard.com - Markets
    06.19 / 14:22 business-standard.com
    Europe's banks also drove higher following broker upgrades for Credit…