Magna Worldwide Inc. will provide battery enclosures for the 2024 Chevrolet Silverado EV out of its new electric-vehicle elements plant in southeast Michigan, North America’s largest elements provider stated at this time.
Magna will construct the enclosures at its new manufacturing unit in St. Clair, Mich., about 50 miles (80 kilometres) north of Detroit, the place the provider already builds enclosures for the GMC Hummer EV. Manufacturing on Silverado enclosures is anticipated to start later within the yr when Magna finishes including 740,000 sq. ft (68,700 sq. metres) to the plant.
The enlargement is a part of a US$530 million funding in its metro Detroit footprint. Magna stated final yr {that a} coming addition to the plant would add 900 employees.
The brand new program is important for the diversified Magna as it really works to spice up its electrification enterprise. Final week, Magna blamed excessive prices associated to its new EV enterprise, in addition to prices associated to superior driver help methods and different components, for its disappointing fourth-quarter earnings, which fell 80 per cent from a yr earlier and despatched its inventory worth tumbling.
“The accelerating shift towards car electrification opens up thrilling development alternatives for Magna past powertrain,” stated John O’Hara, president of Magna’s physique and chassis group, in a press release. “We now have been capable of leverage our experience to provide battery enclosures — a product for which we see sturdy potential going ahead.”
In a information launch, Magna stated its battery enclosures, which home high-voltage batteries and different vital EV elements, could be made in metal, aluminum or multi-material configurations, together with light-weight composites as a way to “meet the person wants of its clients.”
Magna ranks No. 4 on the Automotive Information listing of the highest 100 world suppliers, with worldwide elements gross sales to automakers of US$36.2 billion in 2021.