By Ryan Beene, Crain's Detroit Business
Detroit, Michigan -- Canadian auto supplier Magna International Inc. plans to spend nearly $50 million on four projects in Michigan and add about 500 jobs within five years. The plans include a plant for flexible-foam products in the Detroit area for Magna's automotive seating division.
Magna, North America's largest auto supplier, is seeking state tax credits from the Michigan Economic Growth Authority for the projects to expand the company's electric-vehicle engineering and development, seating systems and powertrain divisions.
The largest investment is scheduled for a plant in suburban Detroit, where the company plans to spend $28 million for an energy storage and delivery testing operation.
The building is part of the company's recently formed Magna E-Car of America Inc. division. E-Car Systems is a new global operating unit designed to integrate Magna's many vehicle electrification product capabilities, which include lithium ion battery pack assembly and design, electric-drive modules, power inverters, battery management systems and other components for hybrid and electric cars.
Magna Powertrain of America Inc. plans to allocate $13.9 million to a planned driveline engineering center in suburban Detroit. Also in the Detroit area, Magna Seating of America Inc. plans to invest $2.4 million in a flexible-foam products plant. Magna also plans to spend $4.1 million on a plant in Lansing.
Magna, of Aurora, Ontario, ranks No. 4 on Automotive News' list of the top 100 global parts suppliers, with worldwide sales to automakers of $23 290 million in 2008.
You can reach Ryan Beene at [email protected]