It is shaping up to be an important week for tram supply chain news in Michigan. carrying on back by Ford latest news that it billion dollar battery factory will be built at a new facility in Marshall, Mich., GM and longtime supplier Magna have confirmed that it will be produced in the future battery siege for new Chevy Silverado EV in the same facility in St. Clair, Mich., where it makes them for GMC’s Hummer EVs. The news certainly doesn’t come as a surprise to anyone following GM’s electrification efforts, but it’s remarkable nonetheless.
“The rapid transition to vehicle electrification opens up exciting growth opportunities for Magna beyond powertrains,” said John O’Hara, president of the chassis and body group at Magna. “We were able to leverage our expertise to deliver battery cases – a product that we see strong potential for in the future. We look to the future and are proud to play a role. so important in the next generation of GM electric truck.”
The components (individual batteries, electrical components, sensors and connectors) which we collectively refer to as batteries in modern electric vehicles are packaged together in an enclosure designed to protect them from debris and water. intrusion, while also providing an anti-collision structure in the event of a collision.
Magna reported last Friday that quarterly profit fell 80% and warned of greater pressure on its profits due to volatile production schedules at automakers and rising costs. High. The auto parts maker’s US-listed shares fell 13.7% and are on track for their worst day in nearly three years.
Chip shortages, stalled production and soaring raw material costs have weighed on auto suppliers and auto executives say some pressure is expected to continue into the year. in the context of an impending economic recession. Company added that it expects the global light vehicle market to grow by around 2% by 2023, with volumes in North America and Europe – their two largest markets – to remain much lower than 2019 levels.
This article includes the report of Reuters.
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