Magna International has announced that its Magna Powertrain operating group was nominated by the Volkswagen Group as a ‘Future Automotive Supply Tracks’ (FAST) strategic partner for outstanding performance in manufacturing driveline systems for VW vehicles.
The supplier was one of 44 nominated by VW as a FAST strategic partner. FAST strategic partners are companies which the automaker considers to be outstanding suppliers in their respective sectors. The group has indicated it intends to extend management level discussions with the nominated partner companies with the aim of successfully implementing joint technological innovations more rapidly than in the past and realising vehicle projects worldwide more efficiently and effectively.
“In the future, it will not be the corporation with the best negotiating skills that has the advantage but the one that has also successfully established an optimal supplier network,” said VW procurement chief Francisco Sanz.
“The nominated FAST suppliers are important beacons in our network, and I am looking forward to even closer and more intensive collaboration.”