Magna International Inc says it’s ready to manufacture vehicles for new entrants as Apple rumours swirl

, Investment

Magna, which also assembles vehicles under contract, said sales rose about 14.5 per cent to $8.90 billion.

TORONTO — Canadian auto parts giant Magna International Inc. is well-positioned to manufacture vehicles for new industry players and may even consider expanding its plant in Austria to accommodate them, the company’s CEO said Thursday as rumours continue to swirl about a tie-up with Apple Inc.

Magna chief executive Don Walker wouldn’t address reports that the company is in advanced talks with Apple about building an electric car for the tech giant, saying “we never comment on people we’ve been talking to.”

However, new industry entrants are a “mega trend” that Magna is watching, Walker said in a presentation at the company’s annual shareholder meeting in Toronto.


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