Magna
Americannoun
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Example Sentences
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Magna International’s $575 million EV parts factory in St. Clair, Michigan, is mostly empty due to a U.S. auto industry pullback on EV investments.
The contract was so big—and promised to be for years to come—that Magna MG 4.30%increase; green up pointing triangle International built a new factory in a Michigan cornfield.
But Magna and its big Detroit customers are forging ahead with plans to roll back EV investments.
GM said this week it would idle the Detroit factory where it builds the big electric trucks that Magna supplies, due to weak demand.
“The magnitude of uncertainty is unparalleled,” said Magna Chief Executive Swamy Kotagiri, who joined the company as an engineer in 1999 and has run it since 2021.
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
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