The Globe and Mail reports in its Friday edition that two key trends that are transforming
the auto industry --
electrification and full, self-driving
technology -- will not be evident
in a most vehicles
until well after 2025, but Magna
International is positioning
itself to be a crucial supplier of
parts for what it calls the vehicle
of the future.
The Globe's Greg Keenan writes that executives said Thursday at the annual meeting that Magna has developed several
technologies that can be used in
electric and autonomous vehicles,
and whose value could
exceed the value of parts it has on many vehicles
now on the road.
To be successful as the car of
the future turns into the car of
the present, Magna needs to
continue what it is already doing,
said chief executive officer Don
Walker.
He said, "We're spending a lot of time
developing products, bringing
them to market, and as the
market grows, hopefully we'll be
one of the successful ones." Magna is forecasting that
fully autonomous vehicles will represent
less than 1 per cent of the
market by 2025. Electric cars
are expected to grab between 3
per cent and 6 per cent of a
global market that will be about
107 million vehicles annually.
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