Magna International Inc. is homing in its research and development efforts on electric- and hybrid-vehicle projects as it works to balance light but growing volumes of parts for next-generation vehicles with demand for its “traditional” lineup of products.
About 70 percent of the engineering projects under way at North America's largest supplier are now geared toward EVs or hybrids, and the company’s powertrain division is no exception, the unit’s president Tom Rucker, told Automotive News Canada. It is a considerable mismatch when compared with the 15 percent of Magna’s production currently devoted to electrified-vehicle programs.