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Magna International company logo
Corporation
AUTOMOTIVE & TRANSPORTATION | Automobile Manufacturing
magna.com

Investments

16

Portfolio Exits

7

Partners & Customers

10

About Magna International

Magna International (NYSE: MGA) is an automotive supplier that designs, develops, and manufactures automotive systems, assemblies, modules, and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks. The company was founded in 1957 and is based in Aurora, Canada.

Headquarters Location

337 Magna Drive

Aurora, Ontario, L4G 7K1,

Canada

905-726-2462

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Expert Collections containing Magna International

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Research containing Magna International

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CB Insights Intelligence Analysts have mentioned Magna International in 1 CB Insights research brief, most recently on Dec 16, 2020.

Latest Magna International News

LG Electronics backs EVs to drive growth

Sep 26, 2023

Wednesday, 27 Sep 2023 LG Electronics aims to generate US$17bil in annual sales from its so-called vehicle solutions business by 2030, said CEO Cho. — Reuters SEOUL: One of the world’s leading home-appliance makers is looking to electric vehicles (EVs) to help drive its growth, specifically infotainment systems and components that are used in cars. South Korea’s LG Electronics Inc aims to generate US$17bil in annual sales from its so-called vehicle solutions business by 2030, accounting for about 20% of total revenue, up from 14% in the first half of 2023, according to chief executive officer William Cho. That will make it the company’s main growth engine, he said in his first media interview since taking the helm in 2021. “I’m confident that the company will be one of the top players in the mobility industry,” Cho told Bloomberg News. “We are going to focus on what we do well,” he said, pointing to what he described as LG’s deep understanding of consumers and ability to respond to evolving technologies. LG doesn’t intend to make its own EVs. Cho is attempting to transform the 65-year-old electronics behemoth into a company that embraces digitisation, electrification and services linked to its devices. LG aims to spend at least 50 trillion won on new businesses by 2030, according to a long-term strategy published in July. The transition will help LG’s diversification from thinner margin, capital-intensive hardware operations, particularly as inflation and worries about recession dent demand for electronics. LG is already a significant player in vehicles, with US$80bil in outstanding orders for technology such as e-powertrains, Cho said. It counts General Motors Co and most carmakers in North America and Europe as customers. Cho deflected questions on whether LG is in talks with Apple Inc for a potential partnership on EVs, saying it’s something he is often asked. “We are confident and ready to cooperate with current and future automakers,” the 60-year-old said. LG Magna, a partnership with Canadian auto parts manufacturer Magna International Inc, will unveil a concept car at the CES trade show in Las Vegas next year. The joint venture is integrating hardware and software, including an advanced driver assistance system and vehicle entertainment, Cho said. Challenges include fallout from geopolitical tensions involving China and Russia, as well as competition from Chinese rivals such as Haier Smart Home Co. LG has also in the past been affected by Chinese boycotts of South Korean products. While there has been a “little bit of a strain from the supply chain point of view”, LG has no plan to “intensively shift Chinese production” to other regions for now, Cho said. According to Bloomberg Intelligence analysts including Ignacio Canals Polo, softer consumer sentiment and a weak housing market have created a “perfect storm” for appliance makers in China. Companies such as LG will need to step up innovation, advertising and investment, they said. Cho said competition from Chinese peers is growing in lower-end appliances and televisions. A goal for LG is to dominate both premium and cheaper electronics, and generate revenue with services connected to those devices. “We need to continuously lead the industry,” Cho said. — Bloomberg Subscribe now to our Premium Plan for an ad-free and unlimited reading experience! Tags / Keywords:

Magna International Investments

16 Investments

Magna International has made 16 investments. Their latest investment was in Yulu as part of their Series B - II on September 9, 2022.

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Magna International Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/12/2022

Series B - II

Yulu

$82M

No

7

1/25/2022

Series A

Addionics

$27M

Yes

14

12/9/2021

Debt

Yulu

$7M

Yes

3

6/16/2021

Unattributed VC - III

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$99M

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10

4/5/2021

PIPE

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$99M

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10

Date

9/12/2022

1/25/2022

12/9/2021

6/16/2021

4/5/2021

Round

Series B - II

Series A

Debt

Unattributed VC - III

PIPE

Company

Yulu

Addionics

Yulu

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Amount

$82M

$27M

$7M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

7

14

3

10

10

Magna International Portfolio Exits

7 Portfolio Exits

Magna International has 7 portfolio exits. Their latest portfolio exit was Magna International - Russian Business on August 01, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/1/2023

Divestiture

Magna International - Russian Business

$99M

Acquirer

2

1/9/2023

Acquired

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$99M

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10

4/5/2021

Reverse Merger

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$99M

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10

3/29/2019

IPO

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$99M

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10

9/20/2018

Divestiture

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$99M

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10

Date

8/1/2023

1/9/2023

4/5/2021

3/29/2019

9/20/2018

Exit

Divestiture

Acquired

Reverse Merger

IPO

Divestiture

Companies

Magna International - Russian Business

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Acquirer

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Sources

2

10

10

10

10

Magna International Acquisitions

30 Acquisitions

Magna International acquired 30 companies. Their latest acquisition was Veoneer on June 01, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/1/2023

$99M

Acquired - II

1

12/20/2022

$99M

Acquired Unit

1

12/20/2022

$99M

Acquired Unit

6

1/11/2022

Debt

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$99M

$99M

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10

12/13/2021

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$99M

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10

Date

6/1/2023

12/20/2022

12/20/2022

1/11/2022

12/13/2021

Investment Stage

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired - II

Acquired Unit

Acquired Unit

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Sources

1

1

6

10

10

Magna International Partners & Customers

10 Partners and customers

Magna International has 10 strategic partners and customers. Magna International recently partnered with ON Semiconductor on July 7, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

7/27/2023

Licensor

United States

1

7/20/2023

Client

United States

Magna invests $790 million to set up shop and supply Ford’s BlueOval City in Tennessee

Under its latest investment in contract manufacturing , Magna International is expanding its relationship with Ford Motor Company as the first supplier setting up shop at its forthcoming BlueOval City assembly campus outside of Memphis , Tennessee .

2

2/13/2023

Client

United States

Magna announces new contract with GM to supply battery enclosures for the 2024 Silverado EV

Magna Electric announces new contract with GM to supply battery enclosures for the 2024 Silverado EV

1

1/4/2023

Partner

South Korea

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10

1/4/2023

Partner

South Korea

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10

Date

7/27/2023

7/20/2023

2/13/2023

1/4/2023

1/4/2023

Type

Licensor

Client

Client

Partner

Partner

Business Partner

Country

United States

United States

United States

South Korea

South Korea

News Snippet

Magna invests $790 million to set up shop and supply Ford’s BlueOval City in Tennessee

Under its latest investment in contract manufacturing , Magna International is expanding its relationship with Ford Motor Company as the first supplier setting up shop at its forthcoming BlueOval City assembly campus outside of Memphis , Tennessee .

Magna announces new contract with GM to supply battery enclosures for the 2024 Silverado EV

Magna Electric announces new contract with GM to supply battery enclosures for the 2024 Silverado EV

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Sources

1

2

1

10

10

Magna International Team

17 Team Members

Magna International has 17 team members, including current Founder, Chief Executive Officer, Joshua Sason.

Name

Work History

Title

Status

Joshua Sason

Mainz

Founder, Chief Executive Officer

Current

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Name

Joshua Sason

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Work History

Mainz

Title

Founder, Chief Executive Officer

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Status

Current

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