• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mr Rodgers also unveiled a concept car, Magna Innovation Lightweight Auto, MILA, to demonstrate Magna's engineering, design and systems' capability.

New Delhi , Jan. 12

WORLD'S fourth largest auto parts' supplier, Magna International said on Thursday that it has set up a sales and engineering office in Mumbai and a joint venture with Lumax Automotive for making interior and exterior mirrors.

The Magna Vice-President of Business Development for Asia Pacific, Mr Steve Rodgers, told reporters that the sales and engineering office is another step towards growing its business in India.

Magna has also appointed, Mr Prasen Agali as executive director of Magna India.

Mr Rodgers also announced that Magna has formed a joint venture with Lumax Automotive Systems, Lumax Magna Donnelly Automotive Mirrors, for making and supplying interior and exterior mirrors for Magna Donnelly's customers in India.

Mr Rodgers also unveiled a concept car, Magna Innovation Lightweight Auto, MILA, to demonstrate Magna's engineering, design and systems' capability. MILA is a single-seat sports' car with a mid-engine and rear-wheel drive.

"This concept car allows us to demonstrate our capacity to and make and supply key components such as seating, body panels, drivetrains and mirrors," Mr Rodgers said.

The company is, however, seeking an OEM (original equipment manufacturer) as a partner for the MILA project to turn it into a marketable vehicle.

Magna estimates the time required for production development to be about 23 months.

More Stories on : New Projects | Events

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Yamaha to invest Rs 300 cr, proposes 3 new models

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line