Magna was named a 2024 Automotive News PACE Award winner and received multiple PACEpilot Innovation to Watch recognitions at the awards ceremony this week.

In its latest Automotive Supplier Study, Deloitte analyzed financial data from nearly 300 global automotive suppliers to study how the trend toward electrification will have an impact on different supplier components.

Honda Motor Co., announced this morning its plans to build a comprehensive EV value chain in Canada with an approximate investment of CAD$15 billion, including investment by joint venture partners, to strengthen its EV supply system and capability to prepare for a future increase in EV demand in North America.

In its report Work the core: How auto suppliers can get fit for the EV transition McKinsey & Company provide estimates for how the global vehicle component market will transform from 2022 to 2030.

The Globe and Mail is reporting that the federal government and Ontario will announce a multibillion-dollar deal this week with Honda Motor Co. Ltd. that would see the company build a comprehensive electric vehicle chain in the province.