24 July 2023
24 July 2023
Magna International will spend US$790m on three plants in Tennessee.
Two will be at Ford Motor Company’s BlueOval City campus in Tennessee with the third in Lawrenceburg.
Last March, Ford announced plans to build 500,000 electric trucks at BlueOval City which is under construction.
The Magna plants will build parts for the trucks with output expected from 2025.
The project was expected to create 1,300 jobs.
The Global Light Vehicle (LV) selling rate rose to 93 million units/year in June, from 89 million units/year in May.
The baseline global truck sales forecast for 2023 has been bumped up following better-than-expected macroeconomic results across all regions.
Understood to be in advanced talks to build a factory in the Catamarca region
BMW’s i5 uses the same eDrive system as the iX and i7
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