Friday, July 25, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
Magna expands GM deal, will build Chevy Silverado EV battery cases

Magna expands GM deal, will build Chevy Silverado EV battery cases

by admin
February 15, 2023
in Market
0 0
0
Share on FacebookShare on Twitter


It is shaping as much as be a giant week for electrical car provide chain information in Michigan. Piggy-backing on Ford’s newest information that its multi-billion-dollar battery facility can be in-built a brand new facility in Marshall, Mich., GM and long-time provider accomplice Magna have confirmed that the latter will produce battery enclosures for the brand new Chevy Silverado EV in the identical St. Clair, Mich., facility the place it builds them for GMC’s Hummer EV. The information is actually no shock to anyone who follows GM’s electrification efforts, however it’s noteworthy nonetheless. 

“The accelerating shift towards car electrification opens up thrilling development alternatives for Magna past powertrain,” stated John O’Hara, president of Magna’s physique and chassis group. “We’ve got been in a position to leverage our experience to produce battery enclosures – a product for which we see robust potential going ahead. We’ve got our eye on the longer term and are proud to play such a crucial function in GM’s subsequent technology of electrical vehicles.”

The parts (particular person batteries, electrical parts, sensors, and connectors) we collectively discuss with because the battery in a contemporary EV are packaged collectively in enclosures designed to guard them from particles and water intrusion and supply a crash construction within the occasion of a collision. 

Magna reported final Friday an 80% fall in quarterly revenue and warned of extra strain on its margins from risky manufacturing schedules at automakers and elevated prices. The auto elements maker’s U.S.-listed shares had been down 13.7% and on monitor for its worst day in almost three years.

Chip shortages, misplaced manufacturing and rising uncooked materials prices have weighed on auto suppliers and auto executives say a few of the pressures are anticipated to persist this yr amid a looming recession. The corporate added it expects the worldwide mild car market to be up about 2% in 2023, with volumes in North America and Europe — its two largest markets — to stay nicely under 2019 ranges.

This text contains reporting by Reuters. 

Associated video



Source link

Tags: batteryBuildCasesChevydealexpandsMagnaSilverado

Related Posts

Trump Just Struck a ‘Massive’ Trade Deal With Japan. Here’s Why Detroit Is Furious
Market

Trump Just Struck a ‘Massive’ Trade Deal With Japan. Here’s Why Detroit Is Furious

July 24, 2025
GM Took a .1 Billion Hit in Profits Thanks to Tariffs
Market

GM Took a $1.1 Billion Hit in Profits Thanks to Tariffs

July 22, 2025
Tariffs Are Already Killing New Cars Under ,000: Study
Market

Tariffs Are Already Killing New Cars Under $30,000: Study

July 19, 2025
Mercedes EQ Models Just Got Way Cheaper
Market

Mercedes EQ Models Just Got Way Cheaper

July 18, 2025
2026 Hyundai Palisade Price
Market

2026 Hyundai Palisade Price

July 15, 2025
Porsche Hikes Prices Again Due to ‘Market Conditions’
Market

Porsche Hikes Prices Again Due to ‘Market Conditions’

July 16, 2025
Load More
Next Post
Will self-driving cars solve traffic congestion?, Auto News, ET Auto

Will self-driving cars solve traffic congestion?, Auto News, ET Auto

Porsche 911 Carrera RS 3.8 stars in ‘Transformers’ Super Bowl ad

Porsche 911 Carrera RS 3.8 stars in 'Transformers' Super Bowl ad

Categories

  • Auto News (3,422)
  • Automative Reviews (1,939)
  • Car Brands (2,065)
  • Insurance (3,445)
  • Market (1,609)
  • New Cars (2,166)
  • Technology (2,041)
  • Videos (2,142)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • Tata Motors Revolutionizes Mobility with Innovative Software-Defined Vehicles, ETAuto
  • Jaunt prices Mini Moke EV for Aus
  • Second hand car in Ranchi Jharkhand New video 🔥 WagonR 🔥40 हजार का discount 🔥#automobile #sale
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In