magna international to invest usd 790 million in three new supplier facilities supporting fords secondgeneration electric truck productioncanadian auto parts maker magna international inc said on thursday it will invest usd 790 million to build three new supplier facilities two of which will be housed at ford motor cos blueoval city campus in tennessee the development comes as suppliers race to meet requirements from automakers who have been hustling to boost their electric vehicle output as demand for environmentally friendly vehicles surges magnas facilities will support production of fords secondgeneration electric truck the canadian company said in a statement one facility at fords campus will make battery enclosures for the truck and a second will make polyurethane foam and seats advt ford in march said it plans to build up to 500000 electric trucks a year at its blueoval city complex under construction the complex will assemble several versions of fords nextgeneration fseries electric pickup which the company calls project t3 in may the detroitbased automaker also unveiled an ambitious strategy to profitably ramp up ev sales though it faces a challenging act of slashing usd 7 billion in costs a third magna facility in lawrenceburg will produce vehicle frames the company said production at all three plants is scheduled to begin in 2025 the investment is expected to create up to 1300 jobs magna said read alsoexclusive after innovation campus magna picks software tech partners in india for sdv developmentauto industry on tenterhooks as uaw kicks off talks with detroit threemagna opens asia innovation campus in bengaluru to support global projectscontract manufacturing the next wave of disruption in ev production reuters published on jul 20 2023 at 0537 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app magna ford ford motor co s magna international inc magna s investment auto components auto parts manufacturer homenewsauto componentsauto supplier magna to invest usd 790 mln to build three new facilities