“These innovations enable automakers to achieve strict emissions standards and deliver efficient, high-performance electrified vehicles across diverse segments while enhancing driving dynamics,” Magna said.

Magna’s newly leased facility is more than 160,000 square feet and is expected to generate ~200 new jobs upon reaching full production.

During the past 20 years, Magna has accelerated its growth in China. In 2024, the company recorded $5.6 billion in sales in the market, with approximately 60% of this revenue coming from Chinese OEMs.