We have a chance to put our thumbprint on the electric vehicle market: Magna CEO
Magna International Inc.’s new chief executive officer isn’t ruling out the possibility of partnering with Apple to build a car.
Swamy Kotagiri, who officially became CEO on Jan. 1, said the Canadian auto parts manufacturer would be open to collaborating with Apple, which reportedly plans to build an autonomous vehicle for consumers.
“Can’t comment specifically on speculation or rumours, but … if somebody asked me the question: ‘Is Magna willing to and does Magna have the capability?’ then the answer to those questions would be a definite ‘yes,’” Kotagiri said.
Last month, Reuters reported Apple is looking to develop a self-driving vehicle and that it’s targeting to enter production by 2024. The report said the vehicles may be equipped with Apple’s own battery technology.
There has been mounting speculation the tech giant could outsource the development of the car to Magna. Reuters reported last month that Apple and Magna had previously held talks to build a vehicle, but discussions ended up falling through.
Meanwhile, Magna has been making a big push into the electric vehicle market. On Monday, the Aurora, Ont.-based company announced it would deepen ties with Fisker by helping to build a driver assistance system for the electric vehicle maker’s SUV.
Last month, Magna agreed to form a joint venture to produce electric car parts with LG Electronics.