Magna Announces Sale of its Lighting and Rooftop Systems Businesses
Magna announced the sale of its lighting and rooftop systems businesses, with terms not disclosed.
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What Happened
Magna, a global automotive supplier, will sell its lighting and rooftop systems businesses. The company did not disclose the buyer or financial terms of the deal.
Magna has a global footprint spanning 28 countries and nearly seven decades of experience, making it a trusted partner to automakers in North America, Europe, and China.
Why this matters
The divestiture marks a significant portfolio change for one of the world's largest automotive suppliers.
Terms in This Story
- EV
- Electric vehicle, a vehicle powered fully or partly by electricity.
- ICE
- Internal combustion engine, the conventional petrol or diesel engine type.
Summarised from the linked release; details can be imperfect — always verify against the original source.