How Magna can become key to the auto industry future

  • Magna International is an $18 billion auto industry giant that flies largely under the radar.
  • Based in Canada, Magna has been run by CEO Don Walker for several decades, but he’s retiring in 2021, with longtime Magna executive Swamy Kotagiri stepping into the role.
  • Magna is in a unique position to seize opportunities in all the industry’s growth areas: electrification, autonomy, and connectivity.
  • But Kotagiri isn’t going to pursue the future without a plan.
  • “If you want to be successful with technology, you need to connect innovation with making money,” Kotagiri told Business Insider in an interview that Walker also joined.
  • Visit Business Insider’s homepage for more stories.

“I’m ready to retire.”

After three decades as CEO of Magna International, the Canada-based auto giant that’s largely invisible to those outside the car business, Don Walker is stepping down. But he sounds quite happy to entrust the 63-year-old firm that he’s

Read More

Global Auto Tyre Market 2020 Business Growth, Technology and Production Analysis, Opportunities and Regional Market Scope by 2025

The MarketWatch News Department was not involved in the creation of this content.

Dec 01, 2020 (CDN Newswire via Comtex) —
Global Auto Tyre Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 reveals the overview of the global industry, encompassing the latest industry data and industry future trends, allowing you to identify the products and end users responsible for revenue growth. The report illustrates the business current situation, regional analysis insights, key player profiles, global market share, and forecast up to 2025. The report presents a thorough overview of the number of significant segments. The study lists the leading competitors and also covers the insights strategic industry analysis of the key factors influencing the global Auto Tyre market.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

Market Analysis And Insights:

The report delivers a

Read More

Virtual auto, CES, NADA shows face hard reality

Trade shows are a different animal altogether. But the Canadian developments seem foreboding for a couple of major events coming up early next year: CES and the NADA Show.

CES, the consumer electronics show that is usually held in Las Vegas, has grown into the pre-eminent auto show in North America — even as the transportation industry vies for attention there with gaming, photography, robotics and every other type of breakthrough technology one can imagine.

Switching to a virtual format this year led to a partnership with Microsoft, which has a suite of software for group meetings and what is now essentially a video production, said Gary Shapiro, CEO of the Consumer Technology Association, which hosts CES.

“We’re also creating it so that exhibitors will have their own video presence and an interactive link which allows them to meet with potential customers, show off technology, and it’ll be a very

Read More

Biden holds joint meeting with union leaders and CEOs of major retail, auto and tech companies

  • President-elect Joe Biden hosted a joint meeting Monday with labor union leaders and the chief executives of major tech, retail and auto companies.
  • General Motors CEO Mary Barra, Microsoft president and CEO Satya Nadella, Target chairman and chief executive Brian Cornell and Sonia Syngal, the CEO of Gap, all attended the virtual meeting.
  • Biden said later that he told the CEOs, “I want you to know I’m a union guy.”

Biden and Harris meet with AFL-CIO, UAW presidents and business leaders



WASHINGTON — President-elect Joe Biden hosted a joint meeting Monday with labor union leaders and the chief executives of major tech, retail and auto companies.


Load Error

The business leaders at the virtual meeting were General Motors CEO Mary Barra, Microsoft president and CEO Satya Nadella, Target chairman and chief executive Brian Cornell and Sonia Syngal, CEO of Gap.

Biden said later that he

Read More

Women set to take lead in emerging auto tech

As the auto industry and the technology that drives it changes, many industry leaders say women hold the keys to success. Leading technology is no longer primarily focused on sheet metal and horsepower — fields that have been heavily dominated by men.

Instead, differentiating technology going forward is more apt to be focused on the customer in fields such as user experience and human-centered design. And women are playing a more active role in those emerging fields.

In decades past, mentions of the auto industry would conjure up images of powertrains, racing and an overall thrilling drive experience.

While those factors are still relevant today, the user experience has become more important to consumers, said Carla Bailo, CEO at the Center for Automotive Research in Ann Arbor, Mich.

While women have succeeded in the male-dominated world of sheet metal, career options broaden when automakers consider the human aspects of operating

Read More

Carmakers want to ditch battery packs, use auto bodies for energy storage

“It’s really starting to snowball”

Supercapacitors don’t hold nearly as much energy as a battery, but they’re great at rapidly delivering small amounts of electric charge. Greenhalgh says that they’re also easier to work with and were a necessary stepping stone toward accomplishing the same thing with a battery. The Volvo was a proof of concept that structural energy storage was viable in an EV, and the success of the Storage project generated a lot of hype about structural batteries. But despite that enthusiasm, it took a few years to procure more funding from the European Commission to push the technology to the next level. “This is a very challenging technology and something that’s not going to be solved with a few million pounds thrown at it,” says Greenhalgh of the financing difficulties. “We got a lot more funding, and now it’s really starting to snowball.”

This summer, Asp, Greenhalgh,

Read More

Global Auto Compulsory Insurance Market 2020 Manufacturer Analysis, Technology Advancements, Industry Scope and Forecast to 2025

The MarketWatch News Department was not involved in the creation of this content.

Nov 02, 2020 (CDN Newswire via Comtex) — has added a new report Global Auto Compulsory Insurance Market 2020 by Company, Regions, Type and Application, Forecast to 2025 that contains aggregate information of the market’s current situation and future prospects. The report provides an expert and in-depth analysis of the market with all the required useful information about this market. The report examines various producers, unions, organizations, suppliers, and industries under the market. It delivers meaningful information on segmentation, estimated growth trends, key drivers and restraints, profiles of major market players, and forecasting, and many other crucial components relevant to the global Auto Compulsory Insurance market. It also covers the fundamental projection related to the growth and management of the global market.

Profit and Sales Assessment:

Profits and sales are verified for various components of this

Read More

Amid auto industry battle, Question 1 is the most expensive ballot initiative in Massachusetts history

“The ideal of the ballot measure being a reflection of the will of the citizens is fading with almost every year as it becomes a battleground for big money interest groups,” Cunningham said.

Spending by the committees for and against Question 1, which has become a focal point in an automobile industry war, will undoubtedly rise. The $42.9 million the opposing sides have reported so far covers through Oct. 20, the most recent deadline, and new disclosures aren’t due until Thursday.

The bulging price tag, fueled by massive contributions from out of state, is part of a years-long trend within Massachusetts’ biennial ballot question fights, which have set some type of new spending record every election cycle since 2014. It’s also alarming lawmakers and others wary of the rising influence of money in state politics, particularly for a process designed to give voters a bigger megaphone in policy-making.

“The pitfalls

Read More

Germany agrees $2.3 billion aid for auto industry to navigate technology shift

FILE PHOTO: Two employees, separated by plastic hygiene protection, work at the A3 and A4 production line of the German car manufacturer Audi, amid the spread of the coronavirus disease (COVID-19) in Ingolstadt, Germany, June 3, 2020. REUTERS/Andreas Gebert

BERLIN (Reuters) – Germany has agreed a 2 billion euro ($2.33 billion) aid package to help its carmakers and auto industry suppliers switch to greener engines and automated driving, according to an Economy Ministry paper seen by Reuters on Monday.

Under the programme, which is due to come into force in 2021, the government plans to distribute grants to key industry players by 2024.

It will also use the funds to promote research and development in areas including the digitalisation of supply chains, 3D-printing and the shared use of production data, and give support to so-called clusters of companies to train employees.

The government plans to cover up to 60% of

Read More

U.S. Agencies Question FCC Plan to Shift Auto Spectrum to Wi-Fi | Technology News

WASHINGTON (Reuters) – The U.S. Transportation and Treasury departments raised strong objections to a plan proposed by the Federal Communications Commission (FCC) to shift much of a key spectrum block set aside for auto safety to accommodate the burgeoning number of wireless devices.

Documents reviewed by Reuters show strong pushback against the plan. The Transportation Department said the FCC plan is “a particularly dangerous regulatory approach when public safety is at stake.”

FCC Chairman Ajit Pai said this week the commission will vote Nov. 18 to finalize a plan to divide the 5.9 GHz spectrum block reserved in 1999 for automakers to develop technology to allow vehicles to talk to each other and traffic infrastructure, but has so far gone largely unused.

Pai would shift 30 megahertz of the 75 megahertz reserved for Dedicated Short-Range Communications (DSRC) to enable a different automotive communications technology called Cellular Vehicle-to-Everything, or C-V2X, while

Read More