Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto
Baua Electric
MAY 4, 2024
Auto parts suppliers have been struggling with lower-than-expected demand for their EV components, as carmakers shift their focus toward producing affordable hybrid vehicles instead. Magna, which produces powertrains, along with assembling complete vehicles, signed agreements with Fisker in 2020 to engineer and manufacture its Ocean SUV.
Let's personalize your content