Comments
Magna, a Canadian auto parts manufacturer, announced on Thursday that it would invest more than $120 million in Bengaluru to build and operate an e-mobility engineering centre. This will be a key centre for Magna in powertrain electrification, electronics, and software-defined vehicle development.
Currently, Magna has 12 manufacturing divisions and three product development centres in the country.
The 240,000-square-foot facility is scheduled to open in the first quarter of 2023. A total of 1,000 engineers and technical experts working on software and system development, simulation, and vehicle integration, data, and cloud solutions for electric vehicle programmes are expected to be hired by the end of 2023, according to the company. Furthermore, the company says that another 250 people will be hired if necessary.
“Vehicles and their systems are becoming more electrified and software-defined, which changes the architecture and how we need to develop them. With this new engineering center, we can further strengthen our vehicle systems development and IP creation, especially in the areas of e-mobility,” said Anton Mayer, Executive Vice-President and Chief Technology Officer, Magna International.
Magna reported sales of $9.4 billion in the second quarter, which ended in June.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.