BRIMLEY, Mich. — Magna International Inc. seeks to maintain its position as the industry electrifies and becomes more connected.
The supplier says its ability to offer complete systems to automakers, not just individual components, will be a key differentiator as it looks to do so.
"Having different systems come together and how well they interact with each other is going to be the significant value that Magna brings to the table," CEO Swamy Kotagiri said at a media event this month.
As the small but growing share of electric vehicles in the global new-vehicle marketplace continues to expand, much of what Magna is developing is now tied in one way or another to EVs. According to the company, about 70 percent of its engineering projects are related to EVs, and Magna expects about 145 million EVs on global roadways by 2030.
Magna, of course, is far from alone in devoting significant resources to electrification. Automakers are pouring billions of dollars into EVs, and Magna's supplier competitors are doing the same.