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News  ›  GlobeNewswire Inc.

Magna Deepens China Footprint to Meet Growing EV Demand

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Magna
Magna Deepens China Footprint to Meet Growing EV Demand

Magna is expanding its presence in China by establishing a new 160,000 square foot facility in Wuhu to manufacture electric drive systems, initially for Chery, with plans to support additional automakers and create approximately 200 new jobs.

Insights
VIK   positive

Targets affluent travelers, 18.5% revenue growth, nearly tripled net income, 95.6% occupancy, and strong advanced bookings for 2025 and 2026 seasons


MGA   positive

Expanding manufacturing capabilities in a growing market, increasing local production, creating jobs, and strengthening market position in China