- Magna ( NYSE: MGA ) announced on Monday the receipt of a new business from General Motors ( NYSE: GM ) to supply battery enclosures on the all-new 2024 Chevrolet Silverado EV.
- The battery enclosures will be produced at Magna Electric Vehicle Structures facility in St. Clair, Michigan. The site already produces the battery enclosure for the GMC HUMMER EV.
- Magna ( MGA ) recently announced significant investment plans for the St. Clair facility to support the fast-growing EV market. Production is expected to begin later in 2023.
- Shares of the auto parts maker edged 1% higher premarket on Monday
For further details see:
Magna secures battery enclosures supply deal from General Motors