Magna International Sees Opportunity in Chinese Expansion

Major Canadian automotive parts manufacturer Magna believes that the global expansion of Chinese automakers represents more of an opportunity than a risk.

That’s the view expressed by Swamy Kotagiri, Magna’s Chief Executive Officer, on February 13 during a conference call held in conjunction with the release of the company’s fourth-quarter financial results, Automotive News reports.

It’s worth noting that Magna has been doing business in China for at least two decades. Over that period, the company has built business relationships that could enable it to increase transactions with these clients as they expand globally.

According to Mr. Kotagiri, Magna is now part of their ecosystem. He also pointed out that the company adopted a similar approach when European automakers established operations in North America.

(Photo : Xpeng)

Éric Descarries

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