What is the history of Magna International?

Magna International has a rich history that dates back to 1957 when it was founded in Ontario, Canada, by Frank Stronach as a tool and die shop. Initially called Magna Electronics, the company focused on manufacturing automotive components. In the ensuing years, Magna grew through a series of strategic acquisitions, expanding its range of products and services within the automotive industry. By the 1970s, Magna began diversifying its offerings to include not only parts but also complete vehicle assembly. During the 1980s and 1990s, Magna gained global prominence by entering international markets and securing contracts with major automakers. The company continued to innovate and adapt, particularly in response to technological advancements and shifts towards electric vehicles. Today, Magna International operates in multiple sectors of the automotive space, including engineering, manufacturing, and assembly, solidifying its position as one of the leading automotive suppliers in the world. For more detailed information about Magna International's current activities and history, one may look for resources on their official website.