13:11:05 EDT Mon 11 May 2026
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 274,324,550
Close 2026-05-08 C$ 86.32
Market Cap C$ 23,679,695,156
Recent Sedar+ Documents

Globe says Magna, rival's hear Cdn auto sector at risk

2026-05-11 06:54 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Saturday, May 9, edition that auto manufacturing in Canada is at risk. The Globe's Eric Reguly writes that subsidies alone won't help. This was highlighted by Honda's recent decision to indefinitely suspend its $15-billion investment in Alliston, Ont., for electric vehicles and batteries. The planned Honda plant was set to be a major investment in Canadian industry. The delay is attributed to Mr. Trump's tariffs and declining demand for EVs in North America, alongside Stellantis and GM reducing their operations in Canada. They have closed or sold plants, moved production to the U.S. or dropped third shifts at factories. The situation may worsen under President Donald Trump, who is using tariffs aggressively. He recently increased tariffs on EU car and truck imports from 15 per cent to 25 per cent, and he might target Canadian imports or jeopardize the USMCA agreement, which is currently under review. The point being, Canada is a hard sell for any automaker from any country, except China, looking to expand its global footprint. Three Chinese EV companies -- BYD, Chery and Xiaomi -- are considering producing EVs in Ontario, though the definition of "making" needs clarification.

© 2026 Canjex Publishing Ltd. All rights reserved.