Magna plans two car battery factories in EU, U.S.

Newswire

VIENNA, May 25 (Reuters) - Canadian car parts maker Magna International is seeking locations to produce batteries for electric cars, a rapidly growing business as carmakers try alternative power options, Magna's boss said on Tuesday. Magna co-Chief Executive Siegfried Wolf said at an event in Vienna that he had earmarked a $200-300 million investment for each of the two factories he is planning. One factory will be built in Europe, one in the United States. Wolf was speaking at a lunch ...

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