Magna | Jotup

Magna Announces New Facility and Expands in Five Other Locations Across Ontario to Support New Business

Retrieved on:

Wednesday, February 15, 2023

AURORA, Investment, Magna, Marketing, Lightning, Ford, OEM, EV, Map, Growth, Welding, Ford F-150 Lightning, Economic development, Aluminium, Ministry of Economic Development, Job Creation and Trade, Rare-earth element, Property management

The growth includes a new battery enclosures facility in Brampton to support the Ford F-150 Lightning and future OEM programs.

Key Points:

The growth includes a new battery enclosures facility in Brampton to support the Ford F-150 Lightning and future OEM programs.
In addition to the Brampton facility, Magna is growing in its locations in Guelph, Belleville, Newmarket, Windsor, and Penetanguishene.
The new and expanded operations are expected to bring more than 1,000 new jobs to Ontario over the next few years.
“Magna’s roots in Ontario run deep, and we are excited about opening a new facility dedicated to a strategic electrification product.

Magna Wins Battery Enclosures Business On First-Ever Chevrolet Silverado EV

Retrieved on:

Monday, February 13, 2023

Magna, GMC, Steel, General Motors, Chevrolet, AURORA, Chevrolet Silverado EV, Safety, Aluminium, GM, Eye, Tunnel

Manufactured at Magna’s state-of-the-art facility in St. Clair, Michigan

Key Points:

Manufactured at Magna’s state-of-the-art facility in St. Clair, Michigan
AURORA, Ontario, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Magna announced today that it has secured new business from General Motors (GM) to supply battery enclosures on the all-new 2024 Chevrolet Silverado EV.
The company will produce the enclosures at its Magna Electric Vehicle Structures facility in St. Clair, Michigan, where it already produces the battery enclosure for the GMC HUMMER EV.
Magna recently announced significant investment plans for the facility in St. Clair to support the fast-growing electric vehicle market .
“We have been able to leverage our expertise to supply battery enclosures – a product for which we see strong potential going forward.

Micro Mobility Industry Gains Steam from Rising Demand for Electric Bicycles and Scooters - Grand View Research, Inc.

Retrieved on:

Wednesday, February 15, 2023

A concerted effort to minimize congestion and emissions has spurred the demand for micro mobility, including electric bikes and electric kick scooters.

Key Points:

A concerted effort to minimize congestion and emissions has spurred the demand for micro mobility, including electric bikes and electric kick scooters.
The global push to combat climate change has fostered the demand for micro mobility, which has emerged as an innovative urban mobility solution.
Besides, an exponential rise in fuel prices and the desire to contribute towards sustainability have encouraged the use of micro mobility.
Potential opportunities to save traveling time and boost flexibility have prompted the demand for micro mobility solutions, including two- and three-wheelers.

Micro Mobility Industry Gains Steam from Rising Demand for Electric Bicycles and Scooters - Grand View Research, Inc.

Retrieved on:

Wednesday, February 15, 2023

A concerted effort to minimize congestion and emissions has spurred the demand for micro mobility, including electric bikes and electric kick scooters.

Key Points:

A concerted effort to minimize congestion and emissions has spurred the demand for micro mobility, including electric bikes and electric kick scooters.
The global push to combat climate change has fostered the demand for micro mobility, which has emerged as an innovative urban mobility solution.
Besides, an exponential rise in fuel prices and the desire to contribute towards sustainability have encouraged the use of micro mobility.
Potential opportunities to save traveling time and boost flexibility have prompted the demand for micro mobility solutions, including two- and three-wheelers.

Realtor.com® Forecasts the 10 Best Markets for First-Time Homebuyers in 2023

Retrieved on:

Wednesday, January 18, 2023

Housing, Growth, Madison, Restaurant, Travel, Magna, Food, Real estate

SANTA CLARA, Calif., Jan. 18, 2023 /PRNewswire/ -- With affordability continuing to be a big hurdle in 2023, first-time buyers may need to be flexible in order to land a house in the coming year. To find the Best Markets for First-time Homebuyers, Realtor.com® looked at a number of qualities that make a town attractive, including affordability, livability and where it might be easier for young buyers to break into the housing market. The top 10 markets for first-time homebuyers in 2023 are: Portsmouth, Va., DeForest, Wisc., Windsor Locks, Conn., Gloucester City, N.J., Moore, Okla., Magna, Utah, Eggertsville, N.Y., Watervliet, N.Y., Mattydale, N.Y. and Somersworth, N.H.

Key Points:

They have strong job markets, short commute times, plenty of places to eat and drink, a younger population, affordability, and more homes to choose from.
This year's best markets have:
More homes to choose from: With inventory still near historic lows, having more homes to choose from can make a world of difference.
Realtor.com®'s best markets for first-time homebuyers have an average of 47.8 listings per 1,000 households, higher than the national rate of 45.2.
The best markets offer an average 2022 listing price to income ratio of 3.5 for 25- 34 year-olds, much lower than the national rate of 5.1.

Magna Morphing Surfaces Technology Offers New Possibilities in Automotive Design

Retrieved on:

Wednesday, December 21, 2022

Consumer Electronics Show, Electronics, Magna, Magna International, Satellite navigation device

Morphing Surfaces technology is a paradigm shift beyond today’s active shutters, panels and grilles.

Key Points:

Morphing Surfaces technology is a paradigm shift beyond today’s active shutters, panels and grilles.
Morphing Surfaces offers a compelling opportunity to reduce drag on all vehicles, especially electric.
“Morphing Surfaces exemplifies the way Magna looks beyond today’s offerings and imagines what is possible around future vehicle designs,” said Grahame Burrow, Global President of Magna Exteriors.
Morphing can go in numerous directions, directions Magna is still exploring, and their goal does not just stop at aerodynamics.

Obra Capital Completes Super Priority Secured Debtor-In-Possession Credit and Security Agreement with GWG Holdings, Inc.

Retrieved on:

Tuesday, December 20, 2022

Magna, LP, Chapter 11, Title 11, United States Code, Bankruptcy, Quinn Emanuel Urquhart & Sullivan, GWG, Insurance, United States bankruptcy court, Proskauer Rose, Security (finance), Bank, Financial services, Obra

Obra, through Vida Insurance Credit Opportunity Fund III, LP and its related affiliates, agreed to provide a term loan credit facility in an initial aggregate principal amount of approximately $564 million and a revolving credit facility in an aggregate principal amount of up to $40 million.

Key Points:

Obra, through Vida Insurance Credit Opportunity Fund III, LP and its related affiliates, agreed to provide a term loan credit facility in an initial aggregate principal amount of approximately $564 million and a revolving credit facility in an aggregate principal amount of up to $40 million.
This is the firm’s largest transaction in its twelve-year history and we look forward to continuing to deploy capital in other situations where Obra has a significant edge in supporting counterparties and driving returns for our investors.”
As part of the agreement, GWG has agreed that Obra’s wholly owned subsidiary, Magna Servicing LLC, will provide servicing for the GWG portfolio of life settlement assets.
With this new servicing assignment, Magna expects to service over $10 billion of life insurance policies for Obra and third-party investors.
Quinn Emanuel Urquhart & Sullivan LLP, and Proskauer Rose LLP acted as legal counsel to Obra and Moelis & Company LLC acted as Obra’s financial advisor.

The Worldwide Electric Vehicle (EV) Battery Housing Industry is Projected to Reach $11.7 Billion by 2031

Retrieved on:

Wednesday, December 28, 2022

Battery, Lithium, Cobalt, I3, Aluminium, R5, EV, Magna, Injury, Growth, CSP, COVID-19, Region, Nickel, Teijin, EVS, Plastic, Magna International, BMW, Steel, Housing, Ford Motor Company, Electric battery, Taxicab, Motor vehicle, Toy, Nemak

Also, the rising focus on vehicle weight reduction by using lightweight materials is helping the electric vehicle battery housing market grow considerably.

Key Points:

Also, the rising focus on vehicle weight reduction by using lightweight materials is helping the electric vehicle battery housing market grow considerably.
The growth of the global electric vehicle battery housing market is majorly attributed to the growing inclination toward vehicle weight reduction by using lightweight materials.
Furthermore, favorable government policies supporting the adoption of electric vehicles across the globe, advancements in housing material, and increase in competition in the electric vehicle are projected to offer new avenues for the electric vehicle battery housing market.
The following are the demand drivers for the global electric vehicle battery housing market:
The following are the challenges for the global electric vehicle battery housing market:

Blaize Partners With Korea Telecom to Bring AI Transformation to Industrial and Enterprise Customers

Retrieved on:

Wednesday, December 14, 2022

Blaize today announced a multi-year Memorandum of Understanding with Korea Telecom (KT) Korea's leading AI, big data, and cloud service provider.

Key Points:

Blaize today announced a multi-year Memorandum of Understanding with Korea Telecom (KT) Korea's leading AI, big data, and cloud service provider.
Blaize and KT intend to coordinate, promote, and support the advancement of manufacturing and services requirements of AI development and education for on-device technology for AI market creation in Korea.
The MOU will bolster their united relationship and foster a more robust channel for exchanging views on AIoT edge device manufacturing requirements.
Blaize, the Blaize logo, GSP, and other designated brands included herein are Blaize, Inc.'s trademarks and registered trademarks in the United States and other countries.

Aetina Launches New ASIC-Based Edge AI System Powered by Blaize

Retrieved on:

Thursday, December 8, 2022

Software, Internet, Hardware, Artificial Intelligence, Data Management, Technology, Mobile, Wireless, Other Technology, Cortex, Dorado, SBC, ASIC, NN, DL, Samsung, Software, GPU, Som, ARM Cortex-A53, Daimler, Temasek, Architecture, Deep learning, AI, Robotics, EDSFF, Pathfinder, Magna, DENSO, GSP, Temperature, GGV, ARM, IOT, M.2, Medical device, Video game console, Ethionamide, Blaize

Aetina , an edge AI solution provider that offers embedded computing hardware and software for AI and IoT, has launched a new ASIC-based edge AI system powered by the programmable Blaize Pathfinder P1600 Embedded System on Module (SoM).

Key Points:

Aetina , an edge AI solution provider that offers embedded computing hardware and software for AI and IoT, has launched a new ASIC-based edge AI system powered by the programmable Blaize Pathfinder P1600 Embedded System on Module (SoM).
Moreover, Aetina helps developers convert their AI inference models to a format that can run and function normally on edge devices built with ASIC chips.
The AIE-CP1A-A1 model, powered by Blaize Pathfinder P1600 SoM, is our first ASIC-based system.
Additionally, Aetina is now developing more ASIC-based AI accelerators with M.2 and EDSFF specification for developers, speeding up the inference processes of their AI models at the edge.